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 ...
Most people don’t know that the cash portion of welfare and the food stamp portion are mostly on the same cards now. Since the world is run by computers now they can tell the difference. So yes, an ebt card can be used for gas or at a golden corral, if they are set up for it, just like a debit card.
See my post #42
Yes its possible. See my post #42
This article is clearly alarmist. I heard Ben Bernacke say that inflation is well under control in his press conference today. And nobody in the media asked him hard questions about inflation, so I know that everything is okay.
With the falling value of the US Dollar... even with 99% of their crap coming from China and other 3rd World slave states, the margin keeps getting thinner...
do not EVER compare welfare recipients and S.S. people in the same sentence....I am 72 years old, on s.s. and have been paying into it for over 50 years....We've paid our dues and the dumbocrats have developed the welfare system to get themselves votes.....one group is getting a return on their investment, the other is bleeding you dry....wake up
The 2008 Farm Act removed all asset test restrictions from SNAP eligibility. There is no point in reporting them based on the car. They might also have $500,000 in the bank, as long as they aren't earning much interest on it. Many Republicans voted for the Farm Act, not just dems.
“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.’
First off, the compassionate wagyu beef eating pig, obuma, cut back foodstamps by 20% or more so he could pay off his fat union pig buddies and their pensions.
That happened 7 months ago, but the liar pigs in the press never reported it. Obuma ripped the food out of childrens’ mouths so union slobs could enjoy vacations at Disneyland.
There’s another big cut in foodstamps for kids coming up next month so the fat union pigs have enough money to buy Johnny Walkers and SUVs.
It’s way past time for welfare mommas to riot against the fat SIEU pigs. Lock ‘n load, momma.
Let’s encourage it.
I think that is just a California thing. Figures.
That chart, according to the slime trail media, is PROOF of the economic recovery. I don’t know how or why, but it is PROOF! (according to them)
I should clarify that if they are using the food side of the EBT card that is a California thing. The cash side could be used in restaurants anywhere.
EBT = Everyone Buys Tacos
EBT = Electronic Benefits Transfer
Actually, there are many employers who pay on the 1st and 15th of each month, rather than bi-weekly. It saves them the cost of processing two full payroll cycles each year.
I’ve never quite understood that. You can’t use food stamps to buy fresh hot fried chicken, but you can buy the same stuff left over the next day in the refrigerated section.
Electronic Benefits Transfer. The old food stamps were a booklet of coupons. The new food stamps are a debit card that gets reloaded with cash each month. They made the change to reduce the stigma of using food stamps. It looks like a credit/debit card so onlookers can't tell who is on food stamps.
Here is a California EBT card
The new bread lines. Yes Virginia, we are in a depression. I thank God I am working.
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