I believe it has more to do with two three things. First off, income tax refunds are later this year, making same day sales from a year ago skewed. Second, of course, is gas prices. The third and biggest reason is lack of jobs. The Obamaconomy sucks.
Is this the source?
Report: Wal-Mart February Sales a ‘Total Disaster’ Amid Tax Hike
Although walmart is somewhat protected, it can’t exactly be immune to the rest of the economy.
I dunno. Both sides are pretty ticked off at Walmart. maybe it’s just an accumulation of it all.
Walmart is a bellweather. This does not bode well for the powers that be...
Anecdotal evidence is just that but here is my take as a Walmart visitor 3-4 times/month...
Walmart is no longer immune from the same malady that struck big box and mall retailers some years ago, namely:
1) Shocking, visible-from-space dropoffs in the quality of goods. Walmart has always sold cheap, shapeless clothing but in addition to its Chinese origin it now features Chinese quality control or lack thereof.
2) Effects of the grocery and consumable goods shrink ray are now obvious to all. Boxes with mostly air inside, graceful swan necks on bottles meant to conceal a decrease in volume, etc. Look at all the flagship brands who now push versions marked basic, everyday, etc.
3) In both instances prices either stay the same or continue to increase.
Electronics have reached a very large plateau; with hardware platforms mostly standardized all innovation is in software - but you can’t see that on a shelf. Accessories for smartphones and tablets are of a pedestrian, cheap nature with disposability the best (?) feature.
XBox 360 was introduced in 2005, Playstation 3 in 2006, yet game publishers and retailers still expect consumers to pay full whack for the same old thing. Games can no longer be a loss leader or a same store sales magnet when the customers no longer flock to the electronics department.
Tools/hardware/automotive? CHEEEEEP. Forget the longstanding warnings about bargain basement socket sets letting you down at the worst moment; half the product on the shelves now look like they came from a child’s toy set.
Walmart is at the mercy of OEMs and vendors in most cases so much of the scorn may be misdirected but after people pay their utility bills and fill tanks with gasoline approaching $4/gas (the media blackout on this doesn’t mean it’s any cheaper nor does it filter out the engine-destroying ethanol) they have very little left even at the deepest of discounters.
Once upon a time I counted my blessings that I had survived the 70s with its shocking fashions (driven by the use of inexpensive synthetics) and horrid product design/quality only to savor the innovation and solid manufacture that engendered brand loyalty throughout the 80s and 90s.
Most iconic brands and retailers have cashed in their reputations for a share of the stack-em-high-and-sell-em-cheap pie but that pie is either shrinking, spoiled, or already gone. Walmart never let its pie get too expensive or fancy but despite their vigilance they are experiencing the same thing.
I’ll accept your premise if you show me some store brands that prospered as folks switched.
Until then I’m saying it’s the Baraqqi Depression year 5.
Walmart is under constant attack from the left, they sell guns and are among the, if not the, most conservative of the big retailers..
What have they done to gun owners? Which supermarket or department store is more gun friendly?
I think it is just you thinking that you think that their stand on guns one way or the other has much to do with it.
It is the fifth year of a massive depression that the mainstream media denies is occurring. When 20% of the working population is under or unemployed even discount retailers are finally hurt.
It amazed me how many people could be so loyal to a company that treated them like that.
The place teaches the culture of 'Mr. Sam', yet violates those teachings at every turn.
I don't fault Walmart for a rumor that was likely started by the left to stir up conservative anger toward Walmart.
Yet Costco, left leaning; thrives. Its CEO spoke at the DNC. Prices there are going up in a big way. Somehow inflation figures don’t show it.
There may be more to Walmart’s sales ups and downs than shelf prices. It’s getting a reputation for sleaze and obesity.
It would be an interesting comparison to see how Amazon is doing. Walmart is terrified of Amazon.
It’s not just Walmart. The continuing recession is chocking the financial life out of many of Walmart’s customers.
This is just my thought, but the people that used to shop Walmart now shop at dollar stores and any other place they can get needed goods for the cheapest possible price.
The next things is people are learning that their big ticket items with brand names are not usually of the same quality as items sold by dealerships. Investing in any outdoor power equipment for example sold there isn't a good idea.
Another thing hurting sales is their elimination of Layaway. Walmarts were originally built to target blue collar workers and lower income customers. Layaway is a great way to purchase an item to avoid credit debt. Rather than charge a small fee Walmart instead partnered with a credit card company. Lay away was replaced with store credit cards.
In their clothing department it is chaos and unorganized mayhem in some stores. There used to be notable easy to recognize sections for mens and boys clothing and womens and girls clothing. Now you have to read the tags closely and understand their coding system. It is so dysfunctional not even the workers can often tell what's what.
Behind all of this is the micromanaging of stores from Bentonville. The managers for the most part are keepers of the keys for every little register boo boo.They have very little say or control over inventory or location of even the items paced in boxes about in the aisles. All of that is decided by Bentonville. I've also figured the what I refer to as backward layout Walmarts are the worse for ease of finding items. These are the stores where the food section is on the right hand side. These are also the ones with the most dysfunctional clothing sections.P>
Walmart Corp management in the past two decades has distanced itself from the consumers. As recent as 15 years ago you could write a letter to any VP in charge of certain aspects and they themselves handled it or their office contacted you. Today you make any complaint to corp and it gets automatically referred back to the local store to an associate who can not resolve Zilch. I know this is true. Years ago I wrote a letter to the VP in charge of Loss Prevention over their highly annoying high pitched alarm system each time someone entered or left electronics. I did get a call from the VP and the alarms were removed.
I've learned Walmart many times is not the low price store. I've bought everything from soft drinks to paper towels, to meat, else where cheaper most of the time. By elsewhere I mean the grocery store and they will empty the shopping cart at the checkout, bag it up, and offer to help take it out for me. Their lines move faster as well.
What has caused me to frequent Walmart less is a combination of:
* More self-scan checkouts and fewer human checkers; but if I have a cart full of food to take home, I don’t want to scan and bag, too
* Aldi’s and Trader Joe’s are cheaper, and both are opening around me. If I have to bag my own, I’ll go where it actually saves me money.
* Low prices don’t mean as much if the deals are out of stock, often an issue at the local Walmart.
However, I am aware that other Walmarts, especially in other states, do sell firearms and ammo, in fact I can order them online from Walmart, the guns have to be shipped to an FFL holder per CA law but the ammo comes directly here. I usually buy ammo on line from Midway or Cheaper than dirt and not from Wally world.