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(Chicago Trib)   You know the economy is bad when even Wal-Mart is posting losses   (chicagotribune.com) divider line 51
    More: Scary, Wal-Mart, internal communications, department stores  
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1465 clicks; posted to Business » on 16 Feb 2013 at 3:10 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-16 12:10:06 AM
Out maybe, just maybe, as a nation our IQ accidentally increased. Maybe.
 
2013-02-16 01:04:39 AM
Wal-Mart executives blamed the poor sales performance on increased payroll taxes as well as delayed tax returns, Bloomberg said.

You heard them folks, blame Republicans in the House of Representatives for the fiscal cliff!
 
2013-02-16 01:13:21 AM
If by "bad economy" you mean "Amazon", then yes.
 
2013-02-16 01:43:59 AM
The value of that stock has grown by over 40% in the last few years.
A 2% drop isn't exactly what I would call circling the drain.
 
2013-02-16 02:39:49 AM
THANKS OBAMA
 
2013-02-16 03:11:37 AM
AND LEON IS GETTING LARGER
 
2013-02-16 03:17:09 AM
I'm not worried for the Waltons and their investment and inheritance incomes. Sorry
 
2013-02-16 03:18:22 AM

TommyymmoT: The value of that stock has grown by over 40% in the last few years.
A 2% drop isn't exactly what I would call circling the drain.


You are making the erroneous assumption that the stock market and those who participate in it are inherently rational.
 
2013-02-16 03:43:51 AM
Or maybe things are improving so more people can afford to shop somewhere that doesn't have trolls for customers and dirty diapers all over the parking lot.
 
2013-02-16 04:03:25 AM

ThatGuyGreg: THANKS OBAMA


Thanks Boehner.
 
2013-02-16 04:04:24 AM
Wal-Mart is NOT losing money.  Bad headline.  The Walton boys can still afford to pay a dozen professional ball washers to wash each ball.
 
2013-02-16 04:08:56 AM

zerkalo: I'm not worried for the Waltons and their investment and inheritance incomes. Sorry


4 of the top ten wealthiest people on the planet.
 
2013-02-16 04:23:51 AM

Flying Lasagna Monster: Wal-Mart is NOT losing money.  Bad headline.  The Walton boys can still afford to pay a dozen professional ball washers to wash each ball.


Yeah, sure.
Do you know how much professional wipers charge these days?
My ass sure isn't going to wipe itself you know, but then again, I AM one of the job creators.
 
2013-02-16 05:12:48 AM
Since no actual sales figures were quoted in the article, it all depends on what the meaning of "disaster" is.

Of course, it could mean that the economy has recovered to the point where Americans can finally afford to shop at better places than WalMart.
 
2013-02-16 06:04:19 AM
oh boo-freaking-hoo for the Walton clan..........Maybe they can prop up the company losses with their personal billions?

Bloomberg's Billionaires - Today's ranking of the world's richest people
Note #9, #10, #11 & #12
s20.postimage.org
 
2013-02-16 07:00:54 AM
"Where are all the customers? And where's their money?"

They're over at Amazon, you ignorant douche.
 
2013-02-16 07:03:26 AM
Nothing can keep going up.  Everything's a bubble.  Was that a popping sound I heard?  It hasn't been too many years ago that KMart was the #1 retailer in the world.

I do EVERYTHING I can to keep from having to shop there.  Unfortunately, I can't avoid getting something there because there is no competition for them.
 
2013-02-16 07:23:07 AM

Bigdogdaddy: Nothing can keep going up.  Everything's a bubble.  Was that a popping sound I heard?  It hasn't been too many years ago that KMart was the #1 retailer in the world.

I do EVERYTHING I can to keep from having to shop there.  Unfortunately, I can't avoid getting something there because there is no competition for them.


Untrue. I have not set foot in a Wal Mart in at least a decade or so.
 
2013-02-16 07:38:16 AM

SDRR: Bigdogdaddy: Nothing can keep going up.  Everything's a bubble.  Was that a popping sound I heard?  It hasn't been too many years ago that KMart was the #1 retailer in the world.

I do EVERYTHING I can to keep from having to shop there.  Unfortunately, I can't avoid getting something there because there is no competition for them.

Untrue. I have not set foot in a Wal Mart in at least a decade or so.


To be fair, it depends on where you live.  In some places there is simply no big-box competition.  Sometimes it really is the only source of things you need on relatively short notice.
 
2013-02-16 07:48:43 AM

TommyymmoT: The value of that stock has grown by over 40% in the last few years.
A 2% drop isn't exactly what I would call circling the drain.


This.

/Have owned the stock since the 1990s
//OMG bad quarter the horror...
 
2013-02-16 08:00:48 AM
<i>"Have you ever had one of those weeks where your best- prepared plans weren't good enough to accomplish everything you set out to do?" Geiger asked in a Feb. 1 email to company executives. "Well, we just had one of those weeks here at Walmart U.S. Where are all the customers? And where's their money?" </i>

This guy sounds more entitled than a mythical welfare queen. Worse, he's real.
 
2013-02-16 08:04:17 AM
the sooner americans cease buying low quality Made In China wal-mart items the better. sadly a crapload of small stores in my bumfark town closed upon hearing wal-mart was coming. they built the smallest w-m you've ever seen, it's poorly stocked and lots of items are not worth buying. lose-lose all around.
 
2013-02-16 08:19:56 AM

SDRR: Bigdogdaddy: Nothing can keep going up.  Everything's a bubble.  Was that a popping sound I heard?  It hasn't been too many years ago that KMart was the #1 retailer in the world.

I do EVERYTHING I can to keep from having to shop there.  Unfortunately, I can't avoid getting something there because there is no competition for them.

Untrue. I have not set foot in a Wal Mart in at least a decade or so.


I haven't seen the inside of a Wal Mart in over a decade. I heard Wal Mart has a website. It was the funniest joke I'd heard in years.
 
2013-02-16 08:22:43 AM
Well, I can tell you why their Northeast sales aren't doing so good.  How's the rest of the country?
 
2013-02-16 08:47:10 AM
I think they may just be plateauing (is that word? I'm making it a word) The money it takes to open a new store (or in the case of the one near me, refurbish and expand an old one) is starting to add up, and they're building them too close together, effectively competing with themselves. In my part of Portland, I can think of at least 4 Wal-Marts that are less than a 10 minute drive away.
 
2013-02-16 08:52:29 AM

Arkanaut: Well, I can tell you why their Northeast sales aren't doing so good.  How's the rest of the country?


God hasn't punished the Midwest yet like he did with the Northeast.

Although with Illinois passing gay marriage in the State Senate and a snowstorm on it's way later this week, stay tuned.
 
jgi
2013-02-16 09:33:36 AM
Add me to the list of people who will never shop at Walmart. I think what they represent is a big part of America's economic problem. Cheap, outsourced junk. Preying on poor people. Driving locally-owned businesses out of business, thus sucking local dollars out of the economy and sending them to Bentonville. You know the drill.

It'll all crash eventually. There is no up without down, no yin without yang. I'm still young yet, so I imagine I'll get to see it in my lifetime. In the meantime, I'll vote with my dollars which is the only vote that really counts.
 
2013-02-16 10:05:38 AM
Wal-Mart's problems are due in part to their own owners policies and political support. When a poor person gets a dollar, they spend it almost immediately, and a lot get spent at Wal-Mart. When I rich person gets a dollar, they send it to their overseas investment account. Only a small fraction comes back to the US as investments, and a most of those US investments use government mechanisms such as bonds that take taxpayer dollars and give it out as interest. So the more the Waltons squeeze their own workers and that population segment for wages and health care and food assistance, the fewer dollars they have to spend at WalMart. Their sales are already very peaky, peaking right after the "checks" come in and dropping off for the rest of the month. Rich people can only buy and use so much stuff that Wal-Mart sells, so giving them more money does not help Wal-Mart much. I say let em crash, they bought their ticket, they knew what they were getting into.
 
2013-02-16 10:27:55 AM

SDRR: Bigdogdaddy: Nothing can keep going up.  Everything's a bubble.  Was that a popping sound I heard?  It hasn't been too many years ago that KMart was the #1 retailer in the world.

I do EVERYTHING I can to keep from having to shop there.  Unfortunately, I can't avoid getting something there because there is no competition for them.

Untrue. I have not set foot in a Wal Mart in at least a decade or so.


Untrue in your area maybe. If I want to shop at Target or a mall, it's a 40 mile drive. That said, cat litter is cat litter and I'm careful to grab loss-leaders from Walmart and little else.

/For everything else, there's Amazon/Newegg/MSC/Rock Auto
 
2013-02-16 11:01:55 AM
I've never noticed WalMart being any cheaper than our incumbent large one-stop-shopping retailer, Fred Meyer. Freddies is definitely a much more pleasant place to shop.
 
2013-02-16 11:42:36 AM

Nightjars: I've never noticed WalMart being any cheaper than our incumbent large one-stop-shopping retailer, Fred Meyer. Freddies is definitely a much more pleasant place to shop.


What Nightjars said.

Plus, they don't have "greeters" (that give me the evil eye ) at the exits....
 
kab
2013-02-16 12:03:06 PM
Making less than you thought you would isn't losing money, dipshiat article writer.

"I won 5k on a scratch-off, but was expecting 10k... I lost money!"
 
2013-02-16 12:23:54 PM

TommyymmoT: The value of that stock has grown by over 40% in the last few years.
A 2% drop isn't exactly what I would call circling the drain.


And that's why the market is such BS. Walmart is worth billions and billions and a slump in sales won't kill them.
People react on such stupid shiat to buy and sell, some guy farts in Japan and we can smell it here SELL !
It's nothing but a giant crap shoot.
 
2013-02-16 12:46:05 PM
Maybe paying everyone $7/hr while taking away all the benefits to lower prices has a problem when them same people are you main customer base.
 
2013-02-16 12:58:38 PM

Bigdogdaddy: Nothing can keep going up.  Everything's a bubble.  Was that a popping sound I heard?  It hasn't been too many years ago that KMart was the #1 retailer in the world.

I do EVERYTHING I can to keep from having to shop there.  Unfortunately, I can't avoid getting something there because there is no competition for them.


KMart was never the #1 retailer in the world.

Now if you were talking Woolworths 5&10, in 1979 it was the largest retailer in the world.
 
2013-02-16 01:03:44 PM
This comes from internal emails "obtained" by Bloomberg. You have to ask yourself who benefits by this news leaking out. If I were the SEC, I'd be checking the volumes of put options and amount of stock shorting going on.
 
2013-02-16 01:07:52 PM

KrispyKritter: the sooner americans cease buying low quality Made In China wal-mart items the better. sadly a crapload of small stores in my bumfark town closed upon hearing wal-mart was coming. they built the smallest w-m you've ever seen, it's poorly stocked and lots of items are not worth buying. lose-lose all around.


If WalMart doesn't satisfy its customers in your town, then the small stores will make a comeback.
 
2013-02-16 01:27:57 PM

ThatGuyGreg: THANKS OBAMA


Best economic recovery since ever.....
 
2013-02-16 01:46:00 PM
Higher payroll taxes this year are seen as a potential problem for Wal-Mart and other discount retailers that try to attract lower-income customers who have less disposable income.

In other words, they are not paying their employees enough to buy their cheap junk. Whose fault is that?

Nightjars:I've never noticed WalMart being any cheaper than our incumbent large one-stop-shopping retailer, Fred Meyer. Freddies is definitely a much more pleasant place to shop.THIS THIS THIS
 
2013-02-16 02:49:57 PM
I never knew Fark was filled with so many anti-Walmart Hipsters.

/it's hip to hate Wal-Mart
//If you're looking to spend as little as possible, you get what you pay for.
///People want to spend as little as possible, hence Wal-Mart's existence.
////Those who want to spend more (aka middle-upper class) will shop elsewhere.
 
2013-02-16 03:07:24 PM

Faith Logic Passion: I never knew Fark was filled with so many anti-Walmart Hipsters.

/it's hip to hate Wal-Mart
//If you're looking to spend as little as possible, you get what you pay for.
///People want to spend as little as possible, hence Wal-Mart's existence.
////Those who want to spend more (aka middle-upper class) will shop elsewhere.


I never knew there were so many Walmart shills on the site willing to volunteer their time to white knight for a huge soulless crap peddling conglomerate.
 
2013-02-16 03:16:04 PM
Bigger Leftist Intarweb Schlong: Faith Logic Passion: I never knew Fark was filled with so many anti-Walmart Hipsters.

/it's hip to hate Wal-Mart
//If you're looking to spend as little as possible, you get what you pay for.
///People want to spend as little as possible, hence Wal-Mart's existence.
////Those who want to spend more (aka middle-upper class) will shop elsewhere.

"I never knew there were so many Walmart shills on the site willing to volunteer their time to white knight for a huge soulless crap peddling conglomerate wealthy folk I'm insanely envious of because they have tons of money I wish I had."

/
FTFY
//Not white-knighting for anybody. Just don't see the point in hating Wal-Mart. Don't like 'em, don't shop there.
///Heck, I prefer shopping at Central Market and H-Mart only cause I think they're cooler.
 
2013-02-16 05:17:26 PM

MadCat221: TommyymmoT: The value of that stock has grown by over 40% in the last few years.
A 2% drop isn't exactly what I would call circling the drain.

You are making the erroneous assumption that the stock market and those who participate in it are inherently rational.


The price of zinc skyrocketed yesterday after the news that the Russian meteor's sonic boom collapsed the roof on a small part of a zinc refining factory.

A tiny insignificant zinc factory that had no effect on worldwide zinc production. And yet that's all it took to shake up prices. Unbelievable.
 
2013-02-16 05:22:25 PM

Babwa Wawa: "Where are all the customers? And where's their money?"

They're over at Amazon, you ignorant douche.



I think dollar stores are cutting into their sales even more. There's a whole hell of a lot of them popping up all over the place.
 
2013-02-17 01:18:50 AM
Perhaps the towns that were saying no were right after all. The PR folks that WMT flies in were wrong and so were their attempts to forcefeed a location(whether by bribing Chicago clergy or town councils all over) to accept them.

The critics were right. The executive that wonders where their customers are should look at the damage to US businesses that WMT has made for his answer.
 
2013-02-17 09:09:59 AM

ThatGuyGreg: THANKS OBAMA


But...Obama said we are better than ever.
 
2013-02-17 09:12:03 AM

TommyymmoT: ThatGuyGreg: THANKS OBAMA

Thanks Boehner.


Boehner should have been voted out as SotH!
 
2013-02-17 11:30:29 AM

Bigger Leftist Intarweb Schlong: Faith Logic Passion: I never knew Fark was filled with so many anti-Walmart Hipsters.

/it's hip to hate Wal-Mart
//If you're looking to spend as little as possible, you get what you pay for.
///People want to spend as little as possible, hence Wal-Mart's existence.
////Those who want to spend more (aka middle-upper class) will shop elsewhere.

I never knew there were so many Walmart shills on the site willing to volunteer their time to white knight for a huge soulless crap peddling conglomerate.


I love how many anti-Walmart farkers love the Clintons. Who do you think allowed Walmart to exploit their workers and buy goods from Chinese slaves?
 
2013-02-17 11:50:21 AM

fstop: ThatGuyGreg: THANKS OBAMA

But...Obama said we are better than ever.


The S&P 500 certainly indicates it.
 
2013-02-17 07:28:08 PM

davidphogan: Out maybe, just maybe, as a nation our IQ accidentally increased. Maybe.


What does IQ have to do with preferring to pay less for the exact same product at Wa-lMart vs. elsewhere?
 
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