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Wal-Mart: Wage hikes are killing profits
http://kdvr.com/2015/10/14/wal-mart-wage-hikes-are-killing-profits/ ^

Posted on 10/14/2015 5:17:15 PM PDT by Red in Blue PA

BENTONVILLE, Ark. — Wall Street rolled back Wal-Mart’s stock price Wednesday after the retailer issued a gloomy outlook.

Wal-Mart said the strong dollar was hurting sales this year and that wage increases for its employees would eat into profits next year.

Shares of Wal-Mart plunged 9 percent to a three-year low on the news.

(Excerpt) Read more at kdvr.com ...


TOPICS: Business/Economy; Extended News
KEYWORDS: economy; minimumwage; walmart
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To: funfan

He is now 20 years old. If you asked him, I am not sure what he would say. When he is 40, I hope he looks back and says we did a pretty good job (not perfect by any means)
raising him!

And thank you, we sure tried!!


41 posted on 10/14/2015 6:24:02 PM PDT by Maine Mariner
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To: vpintheak

HAHAHA!!!


42 posted on 10/14/2015 6:25:05 PM PDT by Osage Orange (Obama practices "religion" in the mirror.)
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To: Captain Peter Blood
$5k?

Heck I could do that for half that...........

43 posted on 10/14/2015 6:27:59 PM PDT by Osage Orange (Obama practices "religion" in the mirror.)
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To: Red in Blue PA

My boycott of cheezy Chicom goods is finally taking hold. Whew hew


44 posted on 10/14/2015 6:28:07 PM PDT by servantboy777
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To: central_va
It actually benefits me and you.

That would be your opinion. My opinion is that I will be affected by higher prices at Walmart, which will result in a spike in inflation, which will hurt me and everyone else. But inflation is already a fait accomplis with all this quantitative easing.

45 posted on 10/14/2015 6:40:22 PM PDT by GreenAccord (Bacon Akbar)
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To: GreenAccord

Please see my post 37


46 posted on 10/14/2015 6:42:01 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: Red in Blue PA

Unexpected!


47 posted on 10/14/2015 6:48:01 PM PDT by NonValueAdded (In a Time of Universal Deceit, Telling the Truth Is a Revolutionary Act)
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To: RKBA Democrat

I rarely go to Walmart but needed various items, household and grocery, the other day after being sick for a week. Went early in the morning to avoid the welfare dregs who were still in bed. Every single aisle I went to other than the grocery part had empty pegs and slots everywhere. No choice whatever and I was lucky if there was just 1 of the items I needed. It was pitiful. I actually came home and wrote corporate an email about it. I also praised the what looked like assistant manager who was following me out to collect carts that helped me put my stuff in the trunk because ‘are you okay? You don’t look so good’. Lol
Not sure I’ll go back since I don’t buy groceries there.


48 posted on 10/14/2015 6:50:48 PM PDT by sheana
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To: luvbach1

We have a Grocery Outlet down the street from us and they always beat Walmarts grocery prices so I never buy their groceries unless it’s just a few items and I went there for something else. Now their stock is so low on everything else, if they even have it in stock, that there’s usually no reason to go there for me.
I do order online occasionally and run in to pick it up. That’s easy if you go early before the welfare people get up.


49 posted on 10/14/2015 6:54:22 PM PDT by sheana
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To: vpintheak

Yes, and have 3-6 over-paid morons with headsets on, standing around talking while people complain loudly about the not-so-speedy checkout or just walk out of the store.


50 posted on 10/14/2015 7:03:42 PM PDT by bigredkitty1 (March 5,2010. Rest in peace, sweet boy. I will miss you, Big Red.)
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To: Graybeard58

Same here. I shop at a couple of WalMart’s and never have problems. Yes,sometimes they are out of something I want but it’s not life altering.


51 posted on 10/14/2015 7:09:38 PM PDT by bonfire
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To: Red in Blue PA

Oh those poor billionaires. Really giving a buck extra and the billionaires lose a lot on paper is just sad. Oh the humanity.


52 posted on 10/14/2015 7:26:39 PM PDT by napscoordinator (Walker for President 2016. The only candidate with actual real RESULTS!!!!! The rest...talkers!)
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To: GreenAccord

So giving a raise resulted in Walmart making 16 million instead of 15 million. Sounds like it was a great decision. The stock will come back. Great opportunity to buy more. Yes I have Walmart Stock and I still haven’t looked to see how much I ‘lost” on paper. I don’t care because I know Walmart will be fine.


53 posted on 10/14/2015 7:30:32 PM PDT by napscoordinator (Walker for President 2016. The only candidate with actual real RESULTS!!!!! The rest...talkers!)
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To: Graybeard58

I wonder if it is the age of the building?


54 posted on 10/14/2015 7:34:29 PM PDT by huldah1776
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To: napscoordinator
So giving a raise resulted in Walmart making 16 million instead of 15 million. Sounds like it was a great decision

Where's the great decision? Their stock price retreated when they announced the poor earnings outlook. Shrinking profits are rarely good news, unless there are some MAJOR accounting maneuvers happening. Are you saying that since they still made billions, the decision to increase wages was a good thing?

So if that round of raises was good, more rounds are better, as long as they make some billions? Not in this pro-capitalism FReeper's opinion. Businesses are in bidness (SIC) to make money, not employ people. The employment is simply a win-win. But shrinking profits can be interpreted as a sign of shrinking payrolls and other cost cutting. That's a lose-lose.

55 posted on 10/14/2015 8:08:33 PM PDT by GreenAccord (Bacon Akbar)
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To: GreenAccord

You know what? Conservatives are not against pay raises. This is ridiculous that you are bashing people getting pay raises which was really just 10 percent. So 9 dollars an hour ended up being 9.90 an hour. I think that is an awful wage. However, this hatred for giving raises to employees is one reason why Bernie is so popular. We are stupid if we bash Walmart for raising the wage of their employees. We never did this before. We HATE the government making them do it but we LOVE when they do it on their own. Sometimes we are our worst enemy.


56 posted on 10/14/2015 8:46:14 PM PDT by napscoordinator (Walker for President 2016. The only candidate with actual real RESULTS!!!!! The rest...talkers!)
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To: central_va
What a ridiculous and embarrassing post. It really is. Your sarcasm and arrogance threatens your ability to communicate well. Your made up numbers (reminds me of someone just drawing up something on the back of an envelope at a cheap diner) are hysterical and unserious.

If what you say is true (which it isn't), why does Walmart hire Gomers? Why couldn't they let you just go back to the loading dock and take it from the truck or at the very least just grab it from some box in the back of the store. Why don't they let you do that?

57 posted on 10/14/2015 9:47:16 PM PDT by Dave W
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To: vpintheak
This must be why they have 1 cashier for every 50 registers.

I was running the tire department at a supercenter and was told I absolutely HAD to remain open for 13 hrs per day (7am to 8pm) 7 days a week. I HAD to have at least 2 techs in the shop at all times. Absolutely no overtime was to be given nor were half shifts to be used. (I was actually given a written warning for punching out one minute late)

I had four guys to meet these requirements and was constantly getting called in to the manager to be lectured on the long wait times.

Walmart SOP

58 posted on 10/14/2015 9:56:55 PM PDT by Cowman (As Jerry Williams used to say --- When comes the revolution....)
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To: Captain Peter Blood

I hear you. Just a complete lack of character on one hand. And don’t pay enough to attract decent people on the other. Sucks!


59 posted on 10/14/2015 10:03:26 PM PDT by vpintheak (A Free Man! Death before disarmament!)
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To: Cowman

Pathetic! Walmart, not you.


60 posted on 10/14/2015 10:05:03 PM PDT by vpintheak (A Free Man! Death before disarmament!)
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