Posted on 02/01/2014 9:01:30 PM PST by 2ndDivisionVet
Wal-Mart stores and its Sam's Club chain are apparently hurting from the cuts in the federal food stamp program that went into effect in early November.
The impact from the government's reduction in the Supplemental Nutrition Assistance Program benefits had a much greater effect on the world's largest retailer than originally expected by the company. Combined with consumer fears about the economy and winter storms that also hurt store business nationwide, the cuts made a bad situation for Wal-Mart even worse, according to a statement from Wal-Mart Chief Financial Officer Charles Holley carried by the Associated Press.
The estimated $5 billion cut from the program dragged down store sales over the Christmas period, more than offsetting the usual bump from the holiday season during the fiscal fourth quarter.
Noting that about 20 percent of Wal-Mart shoppers use food stamps, Morningstar financial analyst Ken Perkins told Reuters, "Wal-Mart caters to lower-income consumers which have been hit disproportionately hard relative to higher-income consumer."(continued)
(Excerpt) Read more at newsmax.com ...
Most welfare slugs resemble the Morlocks..........
First off, thank you for all you do and have done.
Secondly a little story. I had the occasion yesterday, Feb 1, to take my granddaughter over to spend time with my parents who are both in their eighties.
Dad wanted to treat everyone and took us out to a local restaurant, Big Boys. The parking lot was mobbed, so were the lots of all of the other restaurants as well as Wal-mart and such.
My mom asked the server how business was going and she gushed about how nice it was that they were so busy, it was like how it was years ago.
I was curious as to why she put it that way and mom just said. “It’s the first of the month, dear. They just got paid and they are out spending it all as fast as they can in case it might get taken away.”
Dad just nodded in agreement and said most of the time the parking lots only had one or two customers in them.
So think about it... In many places we have become reduced to a quasi-welfare economy. Reduce the dole and some cities and towns might crash and burn.
I look at Social Security income simply as a tax break for older workers. I will have to work ‘till I die and I would appreciate the tax break very much. It has nothing to do with retirement or monies previous stolen from me by the Feds etc...
Well then they are the ignorant ones.
“In many places we have become reduced to a quasi-welfare economy. Reduce the dole and some cities and towns might crash and burn.”
At this point it is whole states; many businesses in the northeast are completely dependent on this redistributed wealth. Was in Wal-Mart in my town in northern NJ yesterday; packed with gibsmedats. Since we were shopping for groceries, it wasn’t so bad - few people buying fruit, vegetables, healthy stuff...
“When corporate America has to rely upon government to prop up their business (and this economy in general) then you know we’re not headed in anywhere near the right direction!”
Corporate America isn’t just depending on this redistributed wealth from welfare gibsmedats; they are also relying on a constant stream of new customers from the de facto amnesty for illegal aliens in this country. They aren’t being encouraged to come here illegally to work; they are needed here as CONSUMERS (of Wal-Mart, public school systems, and housing).
No vet with a service connected disability should be attacked if receiving benefit. Vets have paid for this already, over and over
We have so many folks on here, today, who have never been in the military, nor have any family connection to the military
There is no propping up of corporate America
Walmart is acknowledging change. Sales have in some very small measure declined and that decline can be attributed to the absence of free money. That free money did not prop up walmart. The collapse of walmart is nor iminent
Are we supposed to believe that the welfare recipients are buying less groceries?
It really is too bad NewsMax and World Net Daily have become almost just jokes. They were really good and needed when they started.
Crony capitalism at its best.
A lot are hurting because we don’t have food stamps and can’t eat as well as the people who do.
Possibly but they are more likely spending less on the other junk that they normally waste my money on. Most are impulse buyers whereas I think about what I need/want and plan accordingly.
“I think the reason Walmart started selling groceries was so they could tap into the huge welfare market.”
I don’t think so; I believe it was just a brilliant concept of one-stop shopping (where you basically fit a whole mall into a large store). Supermarkets were the last places on “Main Street” that Wal-Mart hadn’t eliminated yet.
BTW, their prices on groceries are great; shopping there stinks, but is worthwhile from a financial standpoint. Just go early, while the gibsmedats are sleeping.
In Iowa, WalMart is generally not competitive on most groceries.
My complaint is when they classify EVERYTHING as “Entitlements”. I am “Entitled” to the money I was forced to pay into FICA. 2nd Division is “Entitled” to his needs for his service related injuries.
Welfare Recipients and the not disabled Disabled are not “Entitled”. They are receiving Forced Charity, i.e., Forced Taxes on me.
I am “Entitled” to receive my money back. These others are not “Entitled”. I hate when the government bunches these all together. We need to separate who is “Entitled” and who is “Forced Charity”.
Absolutely wrong!
In fact, many are turned down who deserve it.
I know plenty of “disabled” vets who are gainfully employed, display no signs of disability beyond what’s normal for pretty much everyone as they age, or were disabled by their own stupid choices that were not part of their service, like smoking several packs a day.
That's anecdotal and you really don't know what happened during their service. The fact remains that they SERVED. Did you? Did ANY welfare recipient? What about PSTD? How would have liked to go through the horrors of war, have to kill or be killed? How can you know what is going on under the hood?
And let me tell you about smoking. If you never served in the military up through the 1980s, you wouldn't know, but they used to put cigarettes in the C-rations, and I know many a smoker who wasn't until they faced combat. So as far as I'm concerned that would be service related, too.
As far as I'm concerned, you're just a jealous coward, envious of other men, never understanding the pain they've gone through, but wishing you were treated as a hero, without having to pay the price of entry to such an exalted group.
Here in northern NJ they outsell the competition on just about everything (though some of the stuff isn’t as good); my town lost its PathMark a few years ago, and I have to believe it was related to the recent opening of Wal-Mart.
I don’t believe our K-Mart is long for this world, either; while it used to be packed, it is now easy to park close to the doors. I was in the electronics sections some months ago, and it wasn’t staffed; after about five of us were milling around by the register, a woman behind a nearby jewelry counter called someone on the PA system, who promptly appeared to serve all of us at once. A bad omen...
I think the department of Health and Human Services should be changed to the Department of Charity and Wealth redistribution.
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