Skip to comments.Wal-Mart Stores Hurt by Food Stamp Rollbacks
Posted on 02/01/2014 9:01:30 PM PST by 2ndDivisionVet
Wal-Mart stores and its Sam's Club chain are apparently hurting from the cuts in the federal food stamp program that went into effect in early November.
The impact from the government's reduction in the Supplemental Nutrition Assistance Program benefits had a much greater effect on the world's largest retailer than originally expected by the company. Combined with consumer fears about the economy and winter storms that also hurt store business nationwide, the cuts made a bad situation for Wal-Mart even worse, according to a statement from Wal-Mart Chief Financial Officer Charles Holley carried by the Associated Press.
The estimated $5 billion cut from the program dragged down store sales over the Christmas period, more than offsetting the usual bump from the holiday season during the fiscal fourth quarter.
Noting that about 20 percent of Wal-Mart shoppers use food stamps, Morningstar financial analyst Ken Perkins told Reuters, "Wal-Mart caters to lower-income consumers which have been hit disproportionately hard relative to higher-income consumer."(continued)
(Excerpt) Read more at newsmax.com ...
I had occasion to watch The Time Machine on TMC last night.
The scene where the newly arrived time traveler was eating with the Eloi struck me.
He was trying to find out how this new world worked.
Who makes your clothing? shrug.
Where does the food come from? shrug.
Who plants the trees, prunes, harvests? blank look.
Doesnt anyone work? total puzzlement.
Only slightly less thoughtful responses than obamas stash...
Welfare recipients every one.
Get me a tiny violin.
IMO don’t give anyone except for the badly disabled permanent welfare or disability.
After a time make cash go away and force people to work; especially those who are poor and manage to spend all their time birthing babies by the half dozen on the dole.
I’ve had people HERE tell me that my service-connected VA disability is the SAME as the worst welfare, worker’s comp. or SSDI moocher and that I should be ashamed and “get a job” versus collecting it.
They are wrong.
“They are wrong.”
Probably the ones telling you that are tired of the abusers of the system and are desensitized to people having true problems.
No one minds the safety net for the real folks, but then kind of like medical pot, all the losers want on the bandwagon and make the thing a bad deal for all. Or at least it makes it appear bad if ANYONE is on it even when it is real and needed. That is a problem ALSO with abuse of a system.
God Bless, lets just win the lottery, :-)
I am **this** close to a wheelchair/hover-round and expect to be in one by the end of the year, my A1C hovers around 13, I get winded by climbing two sets of stairs, have no feeling in my feet and lower legs except occasional pain, etc., etc. I’d love to go back to work.
Are those the same folks who tell the rest of us we need to give up on getting our money back from Social Security? Eff ‘em.
Great movie, I saw it first time as a young kid.
But some welfare bovine gets 10 bucks shaved off their monthly EBT and it's national news.
Yes, although in the end they were of some use to the Morlocks.
This is what concerns me - the Fed is artificially propping up the stock market, and through welfare, companies. This is how a president-turned-dictator can get CEOs to do his bidding.
As an added bonus, with the sign of a pen, he can collapse the economy for fun.
Yes, they are. They don’t want to you to get back your social security or medicare money. I wish I was kidding, but they’re serious.
I know. I’ve locked horns with a few of them. The taste of their tears is what keeps me coming to FR.
I wouldn’t be ashamed of collecting ANYTHING a willing public via their elected representatives is offering/giving. If the circumstances are legit/legal, it’s all good.....til it’s not.
Let the Federal govt fail We are fighting them. standstuff
we touch the face of jesus.
EFF them. Thanks for you service brother.
Thank you for your service.
I only wish they would send our vets to the best medical facilities in the US, and give them their choice of long term care.
The US govt is totally obligated to the vets, and has no business whatsoever dealing with the bottom feeders. That should be totally left up to municipalities and churches.
” Id love to go back to work.”
You are already doing great work as the best and most prolific poster on FR. I now, however, understand how you have the time to be so active here. Just know that your post are well appreciated, and hopefully many FReepers will add you to their prayer list.
Screw 'em, they probably didn't serve and if they did they should be ashamed, thanks for your service!
Well, that’s a big “TS” now isn’t it!!! The largest retail company in the world can’t do well unless the Government’s tit is amply “full.” With the money that they are making, it’s the height of conceit to complain.
Don’t blame Walmart, they just sell groceries to shoppers, they don’t run the government.
This is going to leave liberals very conflicted. This will be like their inner turmoil over legslizing marijuana vs. the immense carbon footprint of the average indoor grow.
When corporate America has to rely upon government to prop up their business (and this economy in general) then you know we’re not headed in anywhere near the right direction!
When corporate America has to rely upon government to prop up their business (and this economy in general) then you know were not headed in anywhere near the right direction!
The man with the pen will probably sign an EO reimbursing Wal-Mart for any losses.
I have nothing against a veteran on disability who was actually disabled in the line of service. However, the VA disability ratings are a big scam. I know plenty of “disabled” vets who are gainfully employed, display no signs of disability beyond what’s normal for pretty much everyone as they age, or were disabled by their own stupid choices that were not part of their service, like smoking several packs a day. These folks only take advantage of what’s legally offered to them, but I still find them to be dishonorable.
Again, this in no way should imply I’m against the country doing everything possible for disabled vets. I just know too many vets who milk VA disability for all it’s worth, and they’re taking money away from those who really did sacrifice, like those getting limbs blown off (or worse) in Iraq and Afghanistan.
The truly disabled should be helped. No one should fault you for asking for a helping hand or taking assistance when it’s offered.
Just a thought, but why not tax each kid born to a woman on welfare?
Completely agree; I believe that we need to do that or we’ll end up like India, with endless people dying in the streets.
Weaning the able-bodied away from food stamps would be difficult to say the least, and fraught with the likelihood of a violent uprising.
Thank you for your service. And to hell with the rest of THEM. God bless you and yours.
“Dont blame Walmart, they just sell groceries to shoppers, they dont run the government.”
I think the reason Walmart started selling groceries was so they could tap into the huge welfare market.
They are the largest grocery store in America, they sell groceries.
The left bans their grocery stores from many of America’s largest cities, 10s of millions of us can’t shop at our favorite grocery store.
Even San Diego keeps them out, it why you can pay $2.29 for Tabasco sauce at Albertson’s that you pay 99 cents for at Walmart, or a can of chili for $2.79, that costs you a $1.39 at Walmart.
If there is a conspiracy, I would say that it is the left trying to control who can sell groceries, not a retailer selling them.
F*ck them. You paid a price 95% of Americans never would, and EARNED that VA benefit.
Many thanks for your service to a country that is often lacking in its appreciation for the sacrifices of patriots like yourself.
No surprise here. Its also the real reason for corporate Americas all out push for amnesty.
Most welfare slugs resemble the Morlocks..........
First off, thank you for all you do and have done.
Secondly a little story. I had the occasion yesterday, Feb 1, to take my granddaughter over to spend time with my parents who are both in their eighties.
Dad wanted to treat everyone and took us out to a local restaurant, Big Boys. The parking lot was mobbed, so were the lots of all of the other restaurants as well as Wal-mart and such.
My mom asked the server how business was going and she gushed about how nice it was that they were so busy, it was like how it was years ago.
I was curious as to why she put it that way and mom just said. “It’s the first of the month, dear. They just got paid and they are out spending it all as fast as they can in case it might get taken away.”
Dad just nodded in agreement and said most of the time the parking lots only had one or two customers in them.
So think about it... In many places we have become reduced to a quasi-welfare economy. Reduce the dole and some cities and towns might crash and burn.
I look at Social Security income simply as a tax break for older workers. I will have to work ‘till I die and I would appreciate the tax break very much. It has nothing to do with retirement or monies previous stolen from me by the Feds etc...
Well then they are the ignorant ones.
“In many places we have become reduced to a quasi-welfare economy. Reduce the dole and some cities and towns might crash and burn.”
At this point it is whole states; many businesses in the northeast are completely dependent on this redistributed wealth. Was in Wal-Mart in my town in northern NJ yesterday; packed with gibsmedats. Since we were shopping for groceries, it wasn’t so bad - few people buying fruit, vegetables, healthy stuff...
“When corporate America has to rely upon government to prop up their business (and this economy in general) then you know were not headed in anywhere near the right direction!”
Corporate America isn’t just depending on this redistributed wealth from welfare gibsmedats; they are also relying on a constant stream of new customers from the de facto amnesty for illegal aliens in this country. They aren’t being encouraged to come here illegally to work; they are needed here as CONSUMERS (of Wal-Mart, public school systems, and housing).
No vet with a service connected disability should be attacked if receiving benefit. Vets have paid for this already, over and over
We have so many folks on here, today, who have never been in the military, nor have any family connection to the military
There is no propping up of corporate America
Walmart is acknowledging change. Sales have in some very small measure declined and that decline can be attributed to the absence of free money. That free money did not prop up walmart. The collapse of walmart is nor iminent
Are we supposed to believe that the welfare recipients are buying less groceries?
It really is too bad NewsMax and World Net Daily have become almost just jokes. They were really good and needed when they started.