Posted on 04/27/2011 6:58:06 PM PDT by Altura Ct.
NEW YORK (CNNMoney) -- Wal-Mart's core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.
"We're seeing core consumers under a lot of pressure," Duke said at an event in New York. "There's no doubt that rising fuel prices are having an impact."
Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.
Lately, they're "running out of money" at a faster clip, he said.
Wal-Mart's ready to do battle on prices
"Purchases are really dropping off by the end of the month even more than last year," Duke said. "This end-of-month [purchases] cycle is growing to be a concern.
Wal-Mart (WMT, Fortune 500), which averages 140 million shoppers weekly to its stores in the United States, is considered a barometer of the health of the consumer and the economy.
To that end, Duke said he's not seeing signs of a recovery yet.
With food prices rising, Duke said Wal-Mart is charging customers more for some fresh groceries while reducing prices on other merchandise such as electronics.
Wal-Mart has struggled with seven straight quarters of sales declines in its stores.
(Excerpt) Read more at money.cnn.com ...
Now that makes sense.
Dirty no good SS recipients!
Oh, you almost forgot, the tens of millions of government retirees enjoying their generous, bloated tax paid retirements and their tax paid top shelf health-care benefits!
And to think I am trying to stretch my paychecks just to make it from week to week.
Ha. Just wait until they REALLY run out of money ...and Wal-Marts everywhere are being looted to the hilt.
Maybe at that point, things will get through.
Please feel free to add to the list.
We must vote out 0pansy in 2012. Hey 0pansy...FUBO!
>>>what kind of shoppers get their checks at the beginning of a month?...welfare or SS recipients.....not working people...<<<
Holders ‘peoples’.
You silly...Americans have plenty money...Welfare for illegal aliens too! They're probably all saving up for their new homes, that new Mercedes and maybe an exotic African monkey pet, instead of shopping at Walmart.
Have seen this as well.<<<
Not me. I must be living the good life because at my Wally World, we only have, “the folks in the pictures of Wally World Shoppers”.....Dang, my eyes burn, and my nightmares are wicked after each time I go shopping there.
Somewhere around $4/gallon, which is where we’re at now, the American economy starts to shut down. People start driving to work, to church, and to the grocery store, and that’s all of it.
When I spoke with our clients this morning, I make sure to insert the phrase “we are living under the Obama Depression” when the conversation turns to profit margins.
Their facial expression was “did I just hear that” to “no, you did not say that”.
When you talk to other people, just “insert” it into your conversation and see their reaction. It’s a phrase that sticks subliminally...
I was not suggesting that all WM shoppers use EBT cards. I have been shopping at WM for more than 15 years. I am a subscriber to the old wag that “if Wal-Mart doesn’t have it, I don’t need it.”
And I can well afford NOT to shop at Wal-Mart. Which, in fact, may be BECAUSE I’ve shopped mostly at Wal-Mart for over 15 years.
But the fact remains that in many areas many EBT card-holders use W-M. Wouldn’t you? I sure as shootin’ would if I were on foodstamp kind of money.
My neighbors run a Papa Murphy’s take-and-bake pizza chain. They are doing well through the recession because they take food stamps.
There's at least one website devoted to Wal-Mart shoppers: peopleofwalmart.com
Just so you know, my Mom worked her fingers to the bone, and is your age, and her SS check is not enough to even pay rent. No worries though, because her kids take care of her money issues. The kids will always support Mom. Always.
God Bless you and ‘tighten that belt’, because the president wants you to sacrifice even more, because Holder's People need a chance too!
Geeze....what has happened to our country?
Vote the Marxist out in 2012.
Now, you’re on the receiving end of the socialism and we’re all supposed to shut up and pay you what you think you’re due, eh? We all are still paying and we aren’t going to see a damn thing. But what do you care, right? As long as you get what’s (y)ours, right.
My father got nothing....he died at age 52 and collected nothing.....That I get, however, those who are paying in right now will indeed see their checks come through. You stated something inane about the court holding that ss was not a return of invested money.....the court also ruled that O.J. was not guilty....if you pay into a program for 55 or so years and then recieve a check from them, I'd say it was a return of your own money, not a good return I'd say, but a return nevertheless. If they would privatize Roosevelt's ponzi scheme, your return would be enormous compared to what it is now. I only feel sorry for those "less fortunate" if it is through no fault of their own. People who have more kids than they can afford, especially people who are not married, but "single parents", people who drop out of high school because education ain't cool, people who refuse to help themselves through vocational training, apprenticeships, etc.are a drag on society and I have no sympathy for them at all. I am over 70 years old and it has been the same story for all my life, those who are too damn lazy to look after themselves insist that those who are successful should "share their ill gotten wealth with them. Redistribution of income is what our idiot president calls it. Income isn't distributed, it is EARNED and it belongs solely to those who earn it.
OK?
thanks in advance, Redshawk.
Worse than that, it’s where people begin to default on debt that they took on because they could ‘afford the payment’, because they can’t anymore now that they’re spending every spare dollar on gas to get to church, work, and the grocery store. And don’t forget everything at the grocery store going sky high at the same time. Things are about to get really ugly. It’ll take a few months to materialize, but it’s coming.
How often do the tens of millions of government retirees get paid?
It isn’t earned. It was STOLEN just like it’s being stolen from us to give to you. You just want us to shut up and take it while you reap the benefits of the ponzi scheme.
Every Ponzi scheme runs dry and someone gets left holding the bag. You don’t want it to be you. That’s all well and good, but the rest of us are stuck with these bastards stealing our money while we have to prepare for retirement while KNOWING that we’re going to see nothing from it.
But that’s okay, because you say we’re going to get it too, right? We may have been born closer to yesterday than you were, but it ain’t close enough for any of us to believe that nonsense.
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