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 ...
Looks like they’ll have to raise prices...
This must be why they have 1 cashier for every 50 registers.
And the stores are still dirty, the staff still only speaks spanish or ebonics, several items on your shopping list will still be out of stock, and the checkout lines still take at least 20 minutes. But its the wage increase that’s hurting them. Yup. That’s it.
WalMarts apparently vary the store offerings based on the local market. Walmarts in relatively upscale locations can be a very pleasant shopping experience.
So many reasons to hate on Wallyworld. Not really shedding a tear for the chump stockholders.
Lie down with dogs...
Sadly Mr. Walton’s heirs embraced a political system that will destroy all he worked to build. But they’ll get lots of cushy board & political seats seats in the mean time.
No no no. Money for labor comes from passing unicorns. Everyine with a business degree can tell you that. Basic econ 101 stuff. Clearly someone in accounting got the numbers wrong. Walmart had record profits this year because record numbers of unicorns flew out of the head office.
No one panic. All is well.
And as a side note I’m sick of Freepers saying otherwise. You people obviously hate America and love Kmart.
Obama said you don’t need profits ,remember he made no profit from the books Bill Ayers wrote him
Democrats—Looking to destroy whatever of our economy is still left.
Retail is not labor intensive.
Liberals are really stupid. There you go. Cause/effect. Every time. No exceptions.
Those retired folks who put some of their IRA in stock of the largest corporation appreciate your empathy, chump.
“WalMarts apparently vary the store offerings based on the local market. Walmarts in relatively upscale locations can be a very pleasant shopping experience.”
The more competition they have around them the better they are and the better their prices .
In small towns their prices are a lot higher even though the small town stores are usually really busy .
I find that I can beat many of their present prices elsewhere; for instance, a gallon of 1% milk: $2.95 versus $2.49 at Food For Less.
Wage increases hit profits—Who knew?
Walmart makes about $20 Billion in profit every year. So a $1.5 billion “loss” is really not going to kill them.
Same here. There are a few things I know I can get cheaper there, so that’s why I go there. Otherwise, it’s other stores for almost everything else.
Super Walmarts (the largest) are the best bet for widest selection (and ample stocks) and lower prices.
I ran a front end at Walmart and the cashier turnover is unreal. You almost have to have 20 in the pipeline at all times for replacements, and they won’t do it.
Most of the people hired are young girls going to school, that have kids or are getting pregnant. Single all of them.
From day one they get into attendance trouble and within a month to six weeks they are gone. it cost on the average $5000 to hire an train.
Then there is never enough help in the departments to help people and they wonder about sales.
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