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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: vpintheak
Yeah, And I still believe in the product it's just the business model needs to be changed and they need a manager who is familiar with SERVICE and not just retail.

I had the business and was constantly turning customers away because they came in after we had a full schedule for the day or we drop dead HAD to close exactly at 2000h. If I had a full staff, a training budget, and was able to stay open all night (There were no other all night service operations for 40 miles) Then it would be a money maker. As it is The TLE looses efficiency but the customers have a lot of time to wander the store and possibly buy a ten dollar item rather that 500 bucks worth of tires.

61 posted on 10/14/2015 10:14:42 PM PDT by Cowman (As Jerry Williams used to say --- When comes the revolution....)
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To: napscoordinator; central_va; GreenAccord

You and central_va are sure rah-rah for Bernie. It’s only a billion and a half and it’s not your money. Oh yaaaaa, I forgot. You own Walmart stock. That absolves you of all stupid statements.

Socialism rules dude!!!!


62 posted on 10/14/2015 11:20:27 PM PDT by VeniVidiVici (Obama = Harper - Mercer)
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To: VeniVidiVici

Unbelievable. no wonder we lose. Since when did Conservatives decide PRIVATE corporations should not give raises. You are the reason we look stupid. Your thinking is not even human and it is DEFINITELY not conservative.


63 posted on 10/15/2015 12:48:35 AM PDT by napscoordinator (Walker for President 2016. The only candidate with actual real RESULTS!!!!! The rest...talkers!)
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To: fanfan
Who needs cashiers?
Automated McDonald’s kiosks one step closer to Edmonton
http://www.630ched.com/2015/07/27/59162/

From that article:
"When 630 CHED asked a staff at the Leduc store if there were concerns for machines replacing jobs, we were told, “Yes there were, but then I realized they don’t know how to mop floors.”"

Consumers already have Rumba floor cleaning systems...wonder how long it will be until commercial floor cleaning systems are utilized? The long time minimum wage workers are in for a very rude awakening.

64 posted on 10/15/2015 1:05:26 AM PDT by Stand Watch Listen (When the going gets tough--the Low Information President Obie from Nairobi goes golfing/fundraising)
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To: Graybeard58

I have several walmarts in my metro area as well. There is ONE that is not as I described. It’s a half hour drive. No thanks. I have several other grocery stores within a 5-10 minute drive that want my business. Funny thing is the prices really aren’t that different once you start comparing.


65 posted on 10/15/2015 2:59:45 AM PDT by RKBA Democrat (Elections are Job Fairs for sociopaths)
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To: Dave W
What is embarrassing is you can't use your brain to think logically.

The WalMart business model is a simply one of a self service imported goods warehouse. Once the product(s) are put on a shelf then that is all the WalMart supplied labor "value added". There are other expenses like heating, A/C, management etc. But those expense do not directly move, touch or enhance the product nor do those overhead expenses add any value. The only value that WalMart adds is transportation from the port of entry to a main facility where goods are moved around then trucked to retail stores ( again a self serve ware houses).

It ain't rocket science.

66 posted on 10/15/2015 4:50:11 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: napscoordinator
Unbelievable. no wonder we lose. Since when did Conservatives decide PRIVATE corporations should not give raises. You are the reason we look stupid. Your thinking is not even human and it is DEFINITELY not conservative.

They can give raises all they want. YOU are the one that is amongst the nattering nabobs demanding that they GIVE a raise. Then when they do and it hits their bottom line you whine that they can afford to do it.

You must not be affected by this crappy economy because you work for the government, correct? Oh happy, happy. The world is fine because I'm doing fine. Moron.

67 posted on 10/15/2015 9:43:25 AM PDT by VeniVidiVici (Obama = Harper - Mercer)
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To: VeniVidiVici

I didn’t demand Walmart give a pay raise that is absurd. However, they did and I will not bash them for it. I have stock so I have a right to discuss unlike you. I know my portfolio took a hit but it does all the time and I buy more stock. I am not a day trader so I don’t care what happens short term. However you are just a jerk who thinks because you have money nobody else doing a honest job doesn’t deserve a few pennies thrown to them. Sick! You are a disaster for the conservatives. I wish you would just become liberal and be done with it.


68 posted on 10/15/2015 10:18:07 AM PDT by napscoordinator (Walker for President 2016. The only candidate with actual real RESULTS!!!!! The rest...talkers!)
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To: napscoordinator
I wish you would just become liberal and be done with it.

Dream on, bud. You're the one who denigrates a 10% raise that Walmart gave. And you call ME a liberal?

Enter the real world and see what's really going on around you.

69 posted on 10/15/2015 10:26:22 AM PDT by VeniVidiVici (Obama = Harper - Mercer)
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To: VeniVidiVici
You are an authoritarian. You demand that private companies not give pay raises. That is sick. You are a miserable person to think the way you do. I live in the real world. Your the one that wishes the government be doctoral. I say keep government out of private companies. You demand that the government invade itself in the private corporation by insisting that giving a raise is wrong. This was a great choice and Walmart is thriving as it will continue to do. They raised their bottom line.
70 posted on 10/15/2015 10:31:08 AM PDT by napscoordinator (Walker for President 2016. The only candidate with actual real RESULTS!!!!! The rest...talkers!)
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To: napscoordinator
You are an authoritarian. You demand that private companies not give pay raises. That is sick. You are a miserable person to think the way you do. I live in the real world. Your the one that wishes the government be doctoral. I say keep government out of private companies. You demand that the government invade itself in the private corporation by insisting that giving a raise is wrong. This was a great choice and Walmart is thriving as it will continue to do. They raised their bottom line.

LOL! Thanks for the laugh of the day. You seriously have a screw loose or have zero reading comprehension. Have a nice day with your banky.

71 posted on 10/15/2015 10:35:20 AM PDT by VeniVidiVici (Obama = Harper - Mercer)
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To: Red in Blue PA

It is a combination of wage hikes and China devaluing it’s currency over and over to close our production outlets.


72 posted on 10/15/2015 10:37:09 AM PDT by A CA Guy ( God Bless America, God Bless and keep safe our fighting men and women.)
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To: Red in Blue PA
Remember this?

Photo from the Springhill Walmart store shows carts overflowing with food, reportedly left abandoned after balances started showing up again on customers’ EBT cards.

Shoppers trash Walmart, take advantage of EBT card glitch

73 posted on 10/16/2015 4:50:52 PM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: Red in Blue PA

Most of their employees compensation is state aid. If the actually had to pay the full cost, they would be out of business


74 posted on 10/16/2015 5:28:07 PM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: bigbob
So empathy for idiots is supposed to be a good thing?

For years, prior to the dotcom bust, I was begging the older people in my life to pay attention to what they were “investing in”.

They refused to believe they couldn't double or triple their “funds”, by tossing money at companies who didn't have any business plans.

It happened again before the Housing bubble burst.

Greedy ignorant “investors” expecting magical unearned profits on the mere basis of buying and selling to each other, back and forth, the same “investment”.

My “give a damn” has been busted for several decades....

75 posted on 10/16/2015 6:19:38 PM PDT by sarasmom (If Trump trumps all the other candidates, and he does, why would I not vote for him?)
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To: Captain Peter Blood

My brother in law did a study for a large call center operation and his results showed that their attendance policy was costing them a million every year per call center. Did they change their policy? Nope, they are still spending massive dollars on training because they will not go to flex-time or raise their salaries to attract better employees.

“If you pay peanuts, you get monkeys”


76 posted on 10/16/2015 8:39:03 PM PDT by ClayinVA ("Those who don't remember history are doomed to repeat it")
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To: Red in Blue PA
Wal-Mart said the strong dollar was hurting sales this year

Are we really to believe that the devaluation of the yuan hurt the folks in Bentonville?

77 posted on 10/16/2015 8:47:12 PM PDT by aposiopetic
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To: central_va

Those raises only cover obamacare don’t they ?? Take home pay probably is less......McBoo’s Burger franchises are folding as well . Wally Worlds great wall of chinese mart future is questionable IMO.

Stay Safe !!


78 posted on 10/17/2015 6:55:26 AM PDT by Squantos ( Be polite, be professional, but have a plan to kill everyone you meet ...)
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To: central_va

Thank you.


79 posted on 10/17/2015 10:21:52 AM PDT by mbj (My two cents)
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To: redgolum
Really?

My child worked at Walmart.So did many of her classmates.
They didn't receive any “state aid”.

I watched a young man put himself through college working at Walmart.(I don't know anything else about his financial situation)

It's a retail job. Retail sucks!
Most jobs are part time,with no benefits.
Those that are full-time with benefits, at store level, pay more than minimum wage, but nobody will ever get rich at it.
Same as Target's, Macy's, Sear’s, Kohl's etc.

Frankly I have way more respect for all the actual employee's, than for any of the so called “investors”, in any company.

80 posted on 10/19/2015 7:18:23 PM PDT by sarasmom (If Trump trumps all the other candidates, and he does, why would I not vote for him?)
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