Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Wal-Mart Stores Hurt by Food Stamp Rollbacks
NewsMax ^ | January 31, 2014 | Drew MacKenzie

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 ...


TOPICS: Business/Economy; Culture/Society; Government; Politics/Elections
KEYWORDS: 113th; congress; dependency; foodstamps; retail; walmart; welfare; welfarestate
Navigation: use the links below to view more comments.
first previous 1-20 ... 61-8081-100101-120121-124 last
To: Clemenza

I’ve seen the day laborers (and farm laborers) of Sussex County, the bodegas of Morristown, the taquerias of northeastern PA, the welfare strip of NY’s Hudson Valley; I have no misconceptions about the surrounding areas.


121 posted on 02/03/2014 4:01:23 PM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
[ Post Reply | Private Reply | To 119 | View Replies]

To: Clemenza

“If you live in NJ, you either do Wegman’s/Whole Foods or Wal Mart if you are in the other end of the social bell curve. Not much choice in Kearny, I’m afraid”

When I was younger, we had Foodtown, Pathmark, A&P, and TWO Shop-Rites; now we have Shop-Rite and Wal-Mart (and convenience stores and bodegas).


122 posted on 02/03/2014 4:05:49 PM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
[ Post Reply | Private Reply | To 120 | View Replies]

To: 2ndDivisionVet

doh!!!!


123 posted on 02/04/2014 3:28:10 AM PST by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

What’s the disability that keeps you from working? If they don’t know what it is, how can they say you’re able to work?


124 posted on 02/20/2014 10:14:25 AM PST by van_erwin
[ Post Reply | Private Reply | To 5 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 61-8081-100101-120121-124 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson