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Wal-Mart misses view and cuts full-year forecast ( Walmart never should have made us Mad )
yahoo...Reuters ^ | August 14 | Nicole Maestri

Posted on 08/14/2007 7:58:27 AM PDT by george76

Wal-Mart Stores Inc... the world's largest retailer, reported a lower-than-expected quarterly profit and cut its full-year earnings forecast on Tuesday, saying its customers remain under economic pressure.

Chief Executive Lee Scott blamed the disappointing performance on economic pressure around the world.

"It is no secret that many customers are running out of money toward the end of the month," Scott said on a recorded conference call, adding that higher fuel prices, interest rates, utility costs and "more financial pressure" are hurting sales in its international market, including Mexico and Canada.

With more than 127 million customers visiting a Wal-Mart store or a Sam's Club location in America every week, Wal-Mart is considered a barometer of the health of the U.S. retail sector.

But Wal-Mart has been struggling with slowing U.S. sales growth and announced plans earlier this year to cut the number of U.S. supercenters it will open to try to boost sales.

It has also returned to emphasizing its low prices after efforts last year to play down its discount roots backfired with its core low income shoppers.

(Excerpt) Read more at uk.biz.yahoo.com ...


TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: alreuters; chineseimports; retail; reuters; toxicchina; walmart; walmartstores
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al Reuters does not mention the rest of the story. Walmart made many conservative walk away.

( ht drudge )

.

1 posted on 08/14/2007 7:58:30 AM PDT by george76
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To: george76

What supposedly made conservatives do this for just the last quarter?


2 posted on 08/14/2007 8:03:17 AM PDT by ConservativeMind
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To: george76

explain?

was it the removal of guns from a chunk of their stores???

that pissed me off.


3 posted on 08/14/2007 8:06:13 AM PDT by Vaquero (" an armed society is a polite society" Heinlein "MOLON LABE!" Leonidas of Sparta)
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To: george76

“Walmart made many conservative walk away.”

I don’t remember seeing any signs at my store, then again there are so many people who would notice.

You and your big-business-hating liberal union buddies can hate Wal_Mart all you want. They aren’t hurting and they aren’t going anywhere.


4 posted on 08/14/2007 8:08:30 AM PDT by L98Fiero (A fool who'll waste his life, God rest his guts.)
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To: george76
The Walmart down the road from me seems to have stopped selling firearms. A couple of months ago, I noticed the display cases had been removed. Since it was the off-season for hunting, I figured they were just remodeling. But, here it is the middle of August (squirrel season only 30 days away), and the guns are still gone.

It's hard to believe Walmart would so foolishly abandon middle America like this.

Maybe they couldn't convince Mossberg to move their factory to China.

5 posted on 08/14/2007 8:09:08 AM PDT by j. earl carter
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To: Vaquero

Yep! For me, it was the removal of guns. Now, they are taking out ammo. These are the main reasons I went to Wal-Mart—but when I was there, I bought other things besides ammo.


6 posted on 08/14/2007 8:09:54 AM PDT by basil (Support the Second Amendment--buy another gun today!)
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To: ConservativeMind

Wal-Mart, the family-friendly, patriotic company founded by the late Sam Walton has morphed into a reliable ally of the left to boost revenues by pacifying its growing chorus of critics. It now funds radical groups and intimidates its suppliers into adopting its liberal, Big Government agenda...

Wal-Mart once had Hillary Clinton on its corporate board; calls for socialized medicine for all Americans; funds La Raza, and has been accused by the federal government of hiring illegal immigrants; prods suppliers to hire more women and visible minorities, and bullies them into adopting “sustainable” practices.

http://www.freerepublic.com/focus/f-news/1878090/posts


7 posted on 08/14/2007 8:10:24 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: L98Fiero

Chinese made goods. Don’t ever buy food at Walmart and don’t ever buy toys there. In fact, don’t buy anything there until they aren’t selling Chinese made goods. Too dangerous. I’m scared of what those scum have exposed my two year old to.


8 posted on 08/14/2007 8:11:45 AM PDT by Greg F (The Congress voted and it didn't count and . . . then . . . it didn't happen at all.)
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To: Vaquero

former Sierra Club president Adam Werbach once called Wal-Mart a “virus, infecting and destroying American culture,” it hired him in 2006 as an environmental consultant......

More ominous is Wal-Mart’s “Supplier Diversity Program” which will judge suppliers on the diversity of their workplaces. It could impose de facto job quotas on the private sector without government intervention.

http://www.capitalresearch.org/pubs/pubs.html?id=573


9 posted on 08/14/2007 8:12:44 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: j. earl carter; jim_trent
It’s simple. The founder died.

The hired help doesn’t know and never knew the “secret” that made the company grow, so they are killing it with whatever management fad is “in” this month.

by jim_trent

10 posted on 08/14/2007 8:14:55 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76
"For this back-to-school shopping season, which began in July, it has slashed prices on thousands of items by as much as 50 percent to boost sales at its U.S. stores. The retailer said last week that while the price cuts attracted shoppers, they also hurt margins."
As in, "We lose money on every sale but make it up in volume"

Being retired and bored, I took a beer-money job at Wal-Mart and had my illusion of them being a well-run corporation shattered. Many of their store operatoions are just as screwed up and clueless as other corporations. Sam is probably spinning like a gyroscope now.

11 posted on 08/14/2007 8:15:31 AM PDT by Oatka (A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: Greg F

Yes, Wal-Mart is the only store chain in the nation that sells Chinese-made goods. God knows US MANUFACTURERS don’t have any goods made in China to sell in ALL American department store chains.

Too Dangerous? LOL. Riiiight! You have some stats backing that up? I have a very nice guitar that was made in China. What’s it gonna do? Blow up in my lap?

Wal-Mart sells the same crap, made in the same locations as everyone else. Get over the big-business hating, comrade.


12 posted on 08/14/2007 8:16:55 AM PDT by L98Fiero (A fool who'll waste his life, God rest his guts.)
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To: george76

As a regular Walmart shopper I was annoyed when they rearranged the stores to resemble Target (I can’t stand Target). I dislike roaming around the store trying to find what I want to buy.


13 posted on 08/14/2007 8:17:31 AM PDT by alice_in_bubbaland (I will respect illegal aliens civil rights, when they respect the sovereignty of the US!)
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To: basil

I agree. the same thing happened to Service Merchandise back in the early 90’s when the canned gun sales, the store went quickly down hill then closed.

Sears went on a serious down hill slip after pulling guns from their shelves and I believe only the craftsman tool name kept them alive.


14 posted on 08/14/2007 8:17:37 AM PDT by Vaquero (" an armed society is a polite society" Heinlein "MOLON LABE!" Leonidas of Sparta)
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To: Oatka

Yes :

Sam is probably spinning like a gyroscope now.


15 posted on 08/14/2007 8:18:13 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76

>>
Walmart made many conservative walk away.
<<

Just like Fox News, over time growing organizations drift to the left.


16 posted on 08/14/2007 8:19:03 AM PDT by theBuckwheat
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To: L98Fiero

I have a two year old that may have been exposed to lead paint. Get off your “anything business does is fine because I’m Republican” high horse and look at what is really going on around you.


17 posted on 08/14/2007 8:20:13 AM PDT by Greg F (The Congress voted and it didn't count and . . . then . . . it didn't happen at all.)
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To: george76
Through Monday, Wal-Mart shares were almost flat this year...

Wal-Mart shares have been pretty flat for a couple of years.

18 posted on 08/14/2007 8:20:27 AM PDT by Non-Sequitur (Save Fredericksburg. Support CVBT.)
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To: basil

If they do drop ammo in the local store, I’m done with them.

I think sales have dropped because people are looking more closely at where products are made. My last trip to Wal-Mart resulted in zero products purchased that were made in China as a result I didn’t spend as much.

And I’m another who will absolutely NOT buy fresh food or vegetables in Wal-Mart anymore. If I can’t tell where it’s from it stays on the shelf.


19 posted on 08/14/2007 8:20:34 AM PDT by VeniVidiVici (No buy China!!)
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To: alice_in_bubbaland

Ditto :

I can’t stand Target...


20 posted on 08/14/2007 8:20:36 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: L98Fiero
I don’t remember seeing any signs at my store, then again there are so many people who would notice.

My Walmart is so crowded nobody goes there anymore.

21 posted on 08/14/2007 8:22:55 AM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: theBuckwheat

We try to watch Fox News sometimes , but too often these days it is not watchable.


22 posted on 08/14/2007 8:23:49 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: theBuckwheat

FNC has been pushing itself into a more “chickified” channel.

Now it even has a single woman columnist for stuff like how to live alone, get a morgtage alone. All the supermarket tabloid magazine type stuff.

FNC is being oprafied to irrelevance.

FR is still 1000% more informative.


23 posted on 08/14/2007 8:24:20 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: VeniVidiVici
LOL! It's becoming very time consuming to try to figure out where the food is coming from. I spent at least 15 minutes the other day reading the small print trying to buy a pack of cookies for my grandson! I finally ended up finding one---but many packs would say only "Distrubuted by so and so--not where they were made.

Now I would like to know about the origin of ingredients in different products! It's getting ridiculous, isn't it!

24 posted on 08/14/2007 8:26:15 AM PDT by basil (Support the Second Amendment--buy another gun today!)
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To: george76

Wal-Mart Stores Inc... the world’s largest retailer, reported a lower-than-expected quarterly profit and cut its full-year earnings forecast on Tuesday, saying its customers remain under economic pressure.
__________________________________________________________

Wrongo....we are shopping other places because of dirty stores and crappy service. IMHO.


25 posted on 08/14/2007 8:26:17 AM PDT by ThisLittleLightofMine
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To: george76

Walmart went in the grocery business where I live. They may have put a couple of chain grocery stores out of business. But now after a few years, I would say that the grocery stores that survived are doing pretty well. Walmart is not winning here in the grocery business on price, quality, and particularly not selection. The grocery business that Walmart does have should be credited more to the convenience of one stop shopping and price brainwashing more than anything else. The clown that is CEO should stay away from LaRaza and see if he could help the business grow, it looks to me that shareholders are bleeding money while this guy speaks to to hate groups.


26 posted on 08/14/2007 8:27:09 AM PDT by Biblebelter
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To: george76

Friend of mine got a job there.. After seeing how they treated her, I sold my stock. They got out of their way to screw over their employees with low pay, part time work, and strange hours. Also so understaffed that the workers there work so hard, they quit. 42% annual turnover.

Then try to put their employees on medicaid and state medical help for their children, and foodstamps.


27 posted on 08/14/2007 8:27:38 AM PDT by ran20
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To: george76

Conservatives did not walk away. Only a miniscule bunch of malcontents actually quit


28 posted on 08/14/2007 8:28:21 AM PDT by bert (K.E. N.P. +12 . Happiness is a down sleeping bag)
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To: george76

I don’t like Target either, but my daughter has gotten so many good buys there that I do on occasion shop there. You have to shop there carefully, but it will never be my favorite store. But I REALLY don’t like walmart.


29 posted on 08/14/2007 8:28:49 AM PDT by twigs
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To: ThisLittleLightofMine

We tried to stay with Sam’s Club but let our membership die.

Now we are trying Costco. So far, the store is much cleaner...


30 posted on 08/14/2007 8:30:15 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76
Wal-Mart Stores Inc... the world's largest retailer, reported a lower-than-expected quarterly profit

No mention of fear of Chinese quality.

31 posted on 08/14/2007 8:31:18 AM PDT by PAR35
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To: L98Fiero
I have a very nice guitar that was made in China. What’s it gonna do? Blow up in my lap?

I had a Voss 12-string, made in Germany, do that in the late '60's. Summer humidity must have gotten into the glue. It really can happen. It sounded very strange when it happened.. I was not amused.

32 posted on 08/14/2007 8:31:23 AM PDT by Gorzaloon (Food imported from China = Cesspool + Flavr-Straw™)
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To: Moonman62

My Walmart is so crowded nobody goes there anymore.
______________________________________________________

LOL. Were you trying to be funny?


33 posted on 08/14/2007 8:36:14 AM PDT by Greg F (The Congress voted and it didn't count and . . . then . . . it didn't happen at all.)
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To: alice_in_bubbaland
I would love it if Walmart redid the stores to look more like Target. The Walmarts around here are getting a little too shabby, like Kmart was when it was in freefall. The shelves aren't regularly straightened, way too many displays are put into the center of the ailses making it difficult to get through and they never seem to have enough people working. There is a certain level below which only the dollar stores can go and it looks like Walmart is headed there.
34 posted on 08/14/2007 8:36:24 AM PDT by KarlInOhio (May the heirs of Charles Martel and Jan Sobieski rise up again to defend Europe.)
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To: george76

About 90% of the products sold at WalMart come from China. China has had some, very public, quality control issues recently. This might have had some impact.


35 posted on 08/14/2007 8:41:51 AM PDT by 3niner (War is one game where the home team always loses.)
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To: 3niner

Even some high end hotels had to pull their free Chinese made products like toothpaste.

Looks like we will have to try harder to remember to bring our own stuff.


36 posted on 08/14/2007 8:45:54 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: Gorzaloon
"I had a Voss 12-string, made in Germany, do that in the late '60's. Summer humidity must have gotten into the glue. It really can happen. It sounded very strange when it happened.. I was not amused."

Ewwww. I bet not.

My couch guitar is a Chinese-made Blueridge Gospel Trinity. Solid wood, great sound and a great price.

Photo Sharing and Video Hosting at Photobucket

37 posted on 08/14/2007 8:46:07 AM PDT by L98Fiero (A fool who'll waste his life, God rest his guts.)
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To: george76

This is the Yahoo headline - Wal-Mart Profit Jumps but Outlook Cut. The story says, “Wal-Mart Stores Inc. reported a 49 percent increase in second-quarter profits.” That does not seem to be the basics of the Reuters story. No wonder people that use the web think the media is biased.


38 posted on 08/14/2007 8:46:54 AM PDT by q_an_a
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To: Gorzaloon

I have a very nice guitar that was made in China. What’s it gonna do? Blow up in my lap?
_________________________________________________

What sort of chemicals are in the paint or the varnish of your guitar? Lead? Lead flakes off and gets into the air you breathe. Toxic additives to save some pittance per unit? They don’t care about you, they are corrupt, they do not value human life in the same way that westerners do, and they have no effective regulatory controls over product safety. You can make fun of it all until some terrible medical diagnosis comes in. Or are you young enough to think that can’t happen to you?


39 posted on 08/14/2007 8:51:50 AM PDT by Greg F (The Congress voted and it didn't count and . . . then . . . it didn't happen at all.)
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To: Vaquero

Went to Wally World the other day and the guns were removed.Went to our new large Ace hardware store and the owner was elated as he carries guns and ammo.He was on an order only basis for the guns but is now going to stock them.He considers this a win-win for him as he will be the only one in town that carries them.Guns are essential in West Texas.


40 posted on 08/14/2007 8:53:32 AM PDT by xarmydog
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To: Greg F

Can you find a store that doesn’t sell Chinese made goods????


41 posted on 08/14/2007 8:54:07 AM PDT by rzn_republicans ((raising republicans in liberal schools))
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To: george76
Walmart made many conservative walk away

I go to Walmart at least weekly, Sam's at least monthly. I buy only Ford trucks and even stop by Starbucks on the way home. Fox news is not too liberal for me and I sometimes get the French wine. I am the Anti-Freeper!

42 posted on 08/14/2007 8:54:33 AM PDT by chesty_puller (70-73 USMC VietNam 75-79 US Army Wash DC....VietNam was safer.)
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To: george76

I can’t stand to even walk in a Walmart, In our little mountain town several mom & pop stores are out of business, groceries and hardware stores that have been in business for many years. For what it’s worth I think the US of A should put a import boycot on all Chinese junk.


43 posted on 08/14/2007 8:54:46 AM PDT by JamesA
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To: Biblebelter

“The grocery business that Walmart does have should be credited more to the convenience of one stop shopping and price brainwashing more than anything else.”

I admit that I consider one stop shopping a plus, but what is “price brainwashing” ?


44 posted on 08/14/2007 8:55:05 AM PDT by ansel12 (Life is Exquisite, of Great Beauty Keenly Felt.)
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To: ansel12
I admit that I consider one stop shopping a plus, but what is “price brainwashing” ?

If you associate Wal-Mart with low prices, you assume that every item at the store is low priced relative to other stores, so you buy the tomatoes at Wal-Mart when in reality your local grocer may have a lower price on that particular item.

45 posted on 08/14/2007 8:58:00 AM PDT by LWalk18
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To: xarmydog

“He considers this a win-win for him as he will be the only one in town that carries them.Guns are essential in West Texas.”

This is why I love capitalism. If Wal-Mart goes to the dogs, as people seem to be saying, there is usually a good businessman to pick up the slack. I hope he makes a fortune.


46 posted on 08/14/2007 9:00:15 AM PDT by Marie2 (I used to be disgusted. . .now I try to be amused.)
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To: george76

Just wait until China revalues their Yuan...all-China Wal-Mart will be crushed overnight.


47 posted on 08/14/2007 9:01:17 AM PDT by Southack (Media Bias means that Castro won't be punished for Cuban war crimes against Black Angolans in Africa)
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To: george76; ConservativeMind
( Walmart never should have made us Mad )

Don't cut off your nose to spite your face.

48 posted on 08/14/2007 9:05:16 AM PDT by sam_paine (X .................................)
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To: Greg F

I read once that you can get a stratocaster made by a mexican in Tijuana, or you can get one made by a mexican in LA, but the one from Mexico is cheaper and uses better paint, which can’t be used here because of the lead.

Lead paint isn’t dangerous unless it chips and children put it in their mouths.


49 posted on 08/14/2007 9:05:18 AM PDT by ichabod1 ("Liberals read Karl Marx. Conservatives UNDERSTAND Karl Marx." Ronald Reagan)
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To: rzn_republicans

Can you find a store that doesn’t sell Chinese made goods????
____________________________________________________

Can you find a store that sells more Chinese goods as a % of their sales than Walmart? Tongue in cheek — but — Do they sell ANYTHING that is not a Chinese manufacture? Walmart is THE store most responsible for this race to the bottom in manufacture that we’ve had.


50 posted on 08/14/2007 9:07:10 AM PDT by Greg F (The Congress voted and it didn't count and . . . then . . . it didn't happen at all.)
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