The Conservative Cave
Current Events => Economics => Topic started by: bijou on July 10, 2011, 08:29:33 AM
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Wal-Mart Stores Inc posted its seventh consecutive quarterly drop in sales at existing U.S. stores and said it will take some time to turn around sales in that unit.
The world’s largest retailer has struggled with pricing as it has lost customers to dollar stores while it also is still recovering from a poorly executed decision, since reversed, to pare down the number of items it offered.
“Some of the pricing and merchandising issues in Wal-Mart ran deeper than we initially expected, and they require a response that will take time to see results,†Wal-Mart CEO Mike Duke said in a statement, using the style Wal-Mart uses for its U.S. discount stores.
The results and comments about future sales were in contrast to company optimism in the fall, when Wal-Mart said fourth-quarter same-store sales at its namesake U.S. stores should rise, even though its official forecast suggested a decline of 1 percent to a rise of 2 percent.
“At the analyst day in October, Mike Duke made it very clear they were going to do a positive comp this quarter in Wal-Mart U.S. and clearly (they) did not do that, so that was a disappointment,†said Telsey Advisory Group analyst Joseph Feldman
The company forecast U.S. same-store sales in the current first quarter to be down 2 percent to flat. ...
http://investmentwatchblog.com/report-shares-of-wal-mart-slide-after-revenue-miss-weak-outlook-and-negative-same-store-sales-growth/
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Ya think?? My paycheck is feeling it, let me tell you!!
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I will go to Target any chance I can over Walmart. The customer's at Walmart SUCK! :fuelfire:
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Well, that ought to make the DUmmies happy.... :whatever:
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I will go to Target any chance I can over Walmart. The customer's at Walmart SUCK! :fuelfire:
Target is light years nicer than Walmart. Definitely choose over Walmart any day of the year.
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I don't shop at wal-mart anymore and instead opt for Best Buy or Zellers (soon to be Target). They both have better customer service and overall better layout's.
Not to mention I have a strong dislike for many for the other costumers in wal-mart. I'm sure you know all the ones I'm talking about too. It's not that the other store don't have these same people, they just tend to have less.