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 ...
Can someone say Obama's Depression ?
Many Wal-Mart customers use EBT cards. Some of Wal-Mart’s wailing on this point is to advocate for a raise in the amount of food stamp money that goes out. That money flows to Wally World in large part.
Arent food stamps issued by the individual states?
I do my grocery shopping at WalMart. In the last 4 months, every time I checked out, the person in front of me was using an EBT card.
The latest gov’t figure I have seen said 44 million Americans are on foodstamps (ebt).
Are they calling them "paychecks" now?
what kind of shoppers get their checks at the beginning of a month?...welfare or SS recipients.....not working people...
“paychecks”...er... government handouts...money earned by hardworking taxpayers and taken under force of law to be doled out to the perpetual parasite class. paychecks my ass.
The pay for their groceries with their food stamp card. The beer and cigarettes are paid for separately then they drive away in their Expedition while talking on their Iphone. At least that’s what i’ve seen here in South Florida.
What does EBT stand for? Do you know?
I sometimes see a person in front of me using those ebt cards. If they are edlerly, clearly disabled, and use a lot of coupons, buy a lot of rice, beans, and store brands, then it doesn’t bother me.
However I was once behind a young couple very well dressed, tho in casual clothes. They were Black and bought over $200 of nothing but meat. I noticed as I followed them out that the drove away in a late model Alpha Romeo. I took down their tag number.
A lady in our office who had once worked at welfare, said they would investigate if I turned them in but what they would find is the couple are not married, the sports car is registered to someone else etc. Just as well not bother.
Yeah. Those damn social security people. Maybe they should stick with dog/cat food... They never worked, huh? /s
Electronic transfer of your money to nonworking slobs.
The story of America. Running out of money.
Shocker for me: The Columbus Dispatch ran an editorial last week. The thing that caught my eye was that the editorial said that 50% of the people in the metro area receive food assistance. By and large, Columbus is more insulated (certainly effected though) than a lot of cities from the downturn. Can't imagine what it's like in some other cities.
effected s/b affected
Yep, and the food price increases are significant on a percentage basis. I’d rather see folks with EBTs shopping at Walmart as opposed to the pricier grocery stores. It’s brutal out here. Had a conversation with someone today about how we hate shopping at Walmart and would much rather shop at Publix but just can’t afford to. You do what you gotta do.
Wal-Mart: Our shoppers are ‘running out of money’
Not in Texas, the illegals with WIC and welfare cards are stocking up.
When was the last time you saw a whitey or african pushing a huge completely full basket of groceries at Walmart?
Well, just last week there was julietta and her four chicas pushing an overflowing basket of groceries in a central TX Walmart.
Yep, she paid with a TX welfare card.
Steaks all sorts of expensive items.
I felt like a pauper, my measly 15 items topped out at $85 bucks for the wife and I.
Hell, I have never in my life bought a basket of groceries that full (except for beer in college, but that’s another story)
You got that right. What really pisses me off though is when the welfare leech in front of me is eating better than I am based on what they put on the conveyor, and uses their welfare card to pay for their food!
Sure enough, the same welfare leech then gets out to the parking lot to a waiting SUV full of their brood and zooms off while yacking on their iphone screaming at their baby daddies (multiple) to send them money.
You know, it really DOES NOT PAY to work anymore. I'm tired of my hard earned taxpayer dollars going to support that sub-culture and the welfare crowd in this country.
They eat better than I do, they drive better vehicles than I do, hell I don't have an iPHone!!!!! Seems the "poor" in this country are doing better than the so-called "middle class" and "rich!" They aren't working for it!
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