Posted on 05/12/2005 8:08:27 AM PDT by TXBSAFH
Wal-Mart profit misses forecast; outlook weak
CHICAGO (Reuters) - Wal-Mart Stores Inc. on Thursday reported a weaker-than-expected profit and said second-quarter results would miss Wall Street forecasts as steep energy prices and cool, wet weather cut spring sales.
Shares of Wal-Mart, which said gasoline prices would continue to curb consumer spending in the current quarter, fell 4 percent in premarket trading. The world's biggest retailer said it expects trends to improve in the second half and remained optimistic about the U.S. economy.
"Our results were not up to Wal-Mart standards," Chief Executive Officer Lee Scott said on a recorded message, citing steep oil prices and unusually cool, wet weather in parts of the United States.
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Supercenters in my opinion is what will kill Walmart. They are over managed. I never seen Micromanagement in a job like I do working at Walmart.
They are just too big for another thing. The old style Walmarts was much easier to shop and work in and the employees enjoyed their jobs more. Now you might have to walk a mile to get something in an other part of the store. If a big flu epidemic hits I predict those supercenters will be hit harder than smaller stores because noone wants to walk any more than they have to while sick.
As for the lack of Cashiers and the long lines because of it. Chances are good that those stores is hiring Cashiers but the turnover is so great that they are always short. You can treat people poorly and pay them good and they stay, you can treat people good and pay them poorly and they stay but you can't treat people poorly and pay them poorly.
Cashiers is the heart on any retail operation but your typical Walmart Supercenter cashier has a heck a lot more volume than most others but the hours and pay sucks so as soon as they can they get better jobs.
I like Walmart for some stuff and would hate to see it go under but unless something happens to improve management it will be the next K-Mart.
Was about to collapse? Wow! Did the CIA know about this? You must have a much better foreign intelligence agency than the United States! Would it jeopardize any of your agents' safety if you told me what a few of your sources are for this amazing fact? I'd really like to know!
In the last 10 years, I have maybe shoped at Wal Mart a couple times. No more than 3.
Of that number, in the last three years, I have only been there once, to buy an air conditioner in an emergency situation in a heat wave (I was buying the AC for the benefit of someone else), and that was after having gone out of my way to exhaust all other purchasing options first.
I hope that Wal Mart and Communist China disappear. I always go out of my way to avoid buying anything made in China. If I see small cheap "amde in China" stuff around my house, I try to throw all that stuff away.
The consumers in the U.S. are supporting that regime and all its policies (indirectly) and also giving them the cash to medernize their forces.
If (when) we go toe to toe with China, you can blame a good part of China's strength on people in the U.S.
Boycott China. I'm trying to avoid buying anything from Wal Mart for the rest of my life. I hope they fold. Same deal with all the companies that offer products made in Communist China. With any luck, Wal Mart will fold some day, and if that happens, I will say Good Riddance.
They are pushing RFIDs also. I don't like their strong-arm tactics either. Never have, never will.
I hope that enough Americans boycott Wal Mart for the next 10 straight years to the point where they permanently go out of business.
I think it's obvious: their government has directed all available resources to controlling the population. 90% of the GDP goes to the military which is also the internal police force.
The Chinese Government IS floating the Yuan against the dollar.
No it is not, you liar.
It is remarking the dollar peg. Most commentators say that the remark will be in the 2-5% range.
China is not free-floating the yuan.
Its not a question, its a fact.
It's a fact that you have absolutely no idea what you are talking about.
Surprised you didnt know this.
You can count on me to know what is actually happening in the real world - not your fantasy universe.
Yeah, Smoot-Hawley was such a brilliant success.
If I dont make any sense to you, then perhaps you need to improve your reading comprehension a bit. Considering most of your replies, your pretty incapable of a thoughtful argument.
Amazing comment from someone who seems to have read so little that he is spelling half his vocabulary phonetically.
LOL!!
Painfully True Post of the Day.
It sickens me how many so-called Republicans are nostalgic for "smokestack America." I got news for you folks, the period of "high payin' factory jobs" 1. Only lasted from the late 1940s to the early 1970s and 2. Coincided with Democratic domination and high taxes.
Since when is joining a union a basic human right? God, you spew nonsense in every post you write.
The Chinese government is remarking it specifically to respond to the US Fed's increase in interest rates - in other words, the US dictates China's monetary policy.
Not vice versa.
I'm not suggesting that you panic. I own IBM, which is in the same situation, and I'm not panicking.
The Birchers need to get a clue...
The "golden age" these loonies are defending existed almost entirely in the Northeast and Upper Midwest from 1948-1973.
Yet somehow this short-lived regional phenomenon has become the template for the entire US economy forever.
Semantics. Our 'manufacturers' now make Whoppers and Big Macs.
BUMP
The PRC will be very unhappy that Chairman Mao's General Store profits are low.
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