Wal-Mart shares fall on poor holiday sales

[donsu]

http://news.ft.com/cms/s/40804c8c-4172-11d9-9dd8-00000e2511c8.html

Shares in Wal-Mart fell more than three per cent in New York on Monday, after the giant discount retailer cut its forecast for November sales growth to just 0.7 per cent, citing poor performance over the Thanksgiving holiday weekend.

The world's largest retailer had estimated November growth of 2 to 4 per cent just 10 days ago. But Wal-Mart revised its estimates down on Saturday evening after disappointing sales on “Black Friday”, the day after Thanksgiving - so called because it is traditionally the time retailers move into profit for the year. It is an indicator of spending for the holiday season, when a quarter of annual retail sales are rung up.

-snip-

Wal-Mart's lacklustre sales were partly ascribed to higher energy prices, in particular that of heating gas, which had cut customers' disposable income.

Scott Krugman, of the National Retail Federation, said discounters were especially vulnerable to the higher gas prices. But the federation is predicting a strong holiday shopping season in the US, with sales up 4.5 per cent to about $220bn over the whole period.
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the price of heating oil is going to have people broke by spring.

[Seabiscuit]

1. Good!

[Glenda]

2. Plus, we're boycotting, because they give Red

;)

[natrat]

3. yes !!!!!!!!

burn in hell demon

[TlalocW]

4. I take the credit

After doing all my holiday shopping on Ebay from individuals for the past four years, I've finally brought them to their knees.

TlalocW

[tanyev]

5. Awwwww.

Poor Wal-Mart. :cry:

[Xithras]

6. Oil prices? No, their Black Friday sales just sucked!

WalMart has painted themselves into two interesting corners regarding holiday sales:

First, WalMart sells cheap junk at such narrow profit margins in the first place that they can't really afford any steep discounts to spur post-holiday sales. To get people through the door they tend to offer a small collection of loss-leaders, but the vast majority of the store is still the same old stuff at the same old prices. Even those loss leaders tend to come from their cheapest merchandise...DVD players that no reasonable person would put in their home theater, low resolution digital cameras, and scads of cheap clothing that just scream "I am a WalMart shopper!"

Compare that with other retailers which couple "doorbuster" loss leaders with 25% to 75% storewide discounts on name brand merchandise every Black Friday, and you can see why they are losing holiday sales. The perception is that WalMart is no different the day after Thanksgiving than they were the day before, and that they certainly aren't worth waiting in line for at 5AM like the other retailers.

Which brings us to the second related point. Many, possibly most, people consider holiday shopping to be something special. WalMart has done such a thorough job of integrating themselves into towns as a one-stop shop that they are seen as a very "ho-hum" place to shop. Buying Christmas gifts at the same place you buy your drain cleaner, pick up milk, and have your tires rotated is pretty anti-climactic and certainly isn't "Christmasy". Even though WalMart is cheaper, most people would rather brave the crowds at the mall because we would rather give quality gifts and experience "traditional holiday shopping" than give cheap gifts from the same bland store they already visit every two weeks.

[Cleopatra2a]

14. You are so right!!!

Maybe the public has caught on - it's junk!!

[rniel]

7. With the disappearance of the middle class

Wal-mart will eventually be completely fucked.

[devilgrrl]

8. Couldn't have happened to a nicer company.

Let's hope the trend continues.

[maxrandb]

9. If We Had A Real News Media

They might report that this could be because of a "blue state" boycott of Wal-Mart. I hope that the "starve the beast" program works. Maybe, just maybe, this time Dems are so pissed that we will play the Repuke game and "take our ball and go home".

I will say it again. We need to fight with the only power we have left. The Power of the Pocketbook.

I shop at Target. Better quality products, competitive prices, and a fairly progressive company. I too used to enjoy the convenience of shopping at the local Super Wal-Mart, but I refuse to step foot in one while they are still giving "red" and screwing their employees.

Besides, when you think of it. I pay more in just about everything from property taxes to health care, because I am subsidising Wal-Mart employees. Their benefits must make Ebeneezer Scrooge proud.

[LuCifer]

10. B-O-O H-O-O!

Karma's a BITCH ain't it!

:nopity:

And I gotta ask :wtf: is it with people who think Analmart is the CHEAPEST place on Earth!? Wroooong! There's a brand (I can't recall it's name, grrr!) of pizza approx. 10" in size that were 99 cents a year ago at Analmart (I only went cuz my dad was, damn his ignorant ways!) and just a WEEK ago I was in my nearby Target and the SAME brand/size pizza were 77 CENTS! Among many other examples.

Oh, and I saw the DVD of BOWLING FOR COLUMBINE at my Target as well! Gee, I'm SURE you'd see THAT at Analmart...NOT!

SPEAKING OF MIKE MOORE, he'll be on JAY LENO's otherwise unwatchable and unfunny show tonight. Gawd, the thought of having to watch NBC (Nothing But Crap) pains me but I'll do it and let us hope that Mike will mention the F word: FRAUD! As in ELECTION FRAUD!
http://www.BlackBoxVoting.Org
http://www.MichaelMoore.com

Also, F. U. Salvation Army bigoted asses. CAN YOU SAY GOODWILL!

Lu Cifer, STARVE THAT BEAST!!!!!

[Mr_Spock]

11. Boycott those losers

I stopped going there a while back. Haven't missed the angry censoring Repuke loving Chinese product selling morons.

[Deja Q]

12. ROTFLMAO - watch as Walmart starts raising prices...

:crazy:

[myomy]

13. Time to cut employee salaries.

.

[sonicx]

15. oh no, not Walmart!

:nopity:

[goforit]

16. Go to hell Walmart!!!!

[Keirsey]

17. I keep repeating myself...

[goforit]

18. AMEN!!!!!.................THIS has been my mantra for 4 years!!!!

[Nobody]

19. Yeaaaaaah!

I know several people who, besides myself, observe "Buy Nothing Day". I wonder if this might also have soemthing to do with it.

This is similar to the same whine I hear every year about how the National Day of Crass Consumerism wasn't as busy, didn't net them as much profit, and how they're losing money.

Boo fricking hoo.

Maybe the crappy economy we've got now might have something to do with it. If people are out of work, working for less, or afraid they'll lose the job they've got, they won't spend as much money.

As for Wal-mart. Couldn't happen to a nicer company.