Wal-Mart's Profit Climbs 25 Percent

Reuters ^ | Tue Aug 13, 8:22 AM ET | Reuters

[ASaneGuy]

BENTONVILLE, Ar(Reuters) - Wal-Mart Stores Inc. , the world's largest retailer, on Tuesday said quarterly profit rose more than 25 percent as consumers flocked to the discounter in the slow U.S. economy.

[Tuco-bad]

I guess Wal-Mart still pays their workers minimum wage.

Slavery is alive and well in the U.S.

[11B3]

Just in case you're a WalMart shopper:
1. WalMart's gross sales - not profits - represent 2% of the entire US GDP.
2. WalMart is a domestically traded, Chinese Communist backed corporation. No, they don't call the shots within the company, but without them WalMart wouldn't exist.
3. Notice the corporate HQs location. That's right, Arkansas. Along with Tyson Foods, and JB Hunt Trucking. You already know the reason why these companies are there - Bubba - with the same level of ethics you would expect.

[Cable225]

Oh, goody! A Wal-Mart bashing thread. I haven't seen one of these in about a month.

Wal-Mart Stores Inc. , the world's largest retailer, on Tuesday said quarterly profit rose more than 25 percent as consumers flocked to the discounter in the slow U.S. economy.

Well, they must be doing something right. The object of operating a business in America is still to make money, isn't it?

Apparently, the wages their employees are paid, or the merchants that provide their products, or their home base of operations does not factor into the decision-making of their customers.

I will never understand the fixation some on this forum have with this company.

[been_lurking]

2. WalMart is a domestically traded, Chinese Communist backed corporation. No, they don't call the shots within the company, but without them WalMart wouldn't exist.

Source this.

It would seem to me that without Walmart many Communist Chinese would not exist.

[breakem]

Do some reading and you will know why Wal-Mart is IN Arkansas.

[TomGuy]

Notice the corporate HQs location. That's right, Arkansas. Along with Tyson Foods, and JB Hunt Trucking

Actually, all 3 of these were successful companies long before Bubba. All 3 started as family owned businesses that grew into what they are today. Bubba did help Tysons significantly when he was governor. Walmart was already nationwide -- and growing -- before Bubba ever entered the White House. Bubba "came" from the southern part of the state. Northwest Arkansas, where, coincidentally, all 3 have their headquarters, has been the Republican stronghold of Arkansas for decades. Note that NWA produced Congressman Boozman(R) who replaced A Hutchinson(R) who became Drug Czar, and Senator T Hutchinson(R).

[Knurd Rebos]

WallyWorld is BAD for America's small business. example: I work for a small distributor of Texaco products. Joe Sixpack can go to WalMart and buy a case of Havoline oil at a price CHEAPER than we can buy it straight from Texaco!
IT AINT RIGHT!

[jbstrick]

This is great news. Although some would bash this company. I think they do some good.

[been_lurking]

I work for a small distributor of Texaco products. Joe Sixpack can go to WalMart and buy a case of Havoline oil at a price CHEAPER than we can buy it straight from Texaco!

Cut overhead, reduce waste, cut profit margins and compete. Otherwise, find a new business.

[mountaineer]

Amen to what you said. As a shareholder, I'm glad to hear that profits are up (just call me a nasty capitalist).

[TheCause]

Capitolism...........get used to it.

[bvw]

They have amazing inventory management that goes all the way back into the MRP systems of their suppliers. Wal-Mart even specificies how to pack a pallet so it arrives on their store's docks in the most convenient fashion for them.

This is information from a fellow I worked with maybe fifteen years ago who had just previously been the plant manager of a mid-western clock manufacturer that had Wal-Mart has one of their big customers.

[TomGuy]

Do some reading and you will know why Wal-Mart is IN Arkansas.

WalMart is in Arkansas because Sam Walton, founder, ran a Ben Franklin store and a 5&dime on the square in Bentonville years. In the early 1960's, he had the idea to create discount stores. It took him years to convince backers (bankers). Finally around 1962, he opened the first of 4 Walmarts--Rogers, Siloam Springs, Springdale (I think) and 1 other location. From those stores, Sam grew a few stores a year, mostly in towns of under 20,000. By the early 1970's, Walmart had a couple hundred stores. By the early 1980's, they were about 600 stores. By then, they were moving fast in expansion. (Walmart became a public company in 1972, I think it was--Clinton's first public office was Attorney General in either 1976, I think.)

[sphinx]

WallyWorld is BAD for America's small business. example: I work for a small distributor of Texaco products. Joe Sixpack can go to WalMart and buy a case of Havoline oil at a price CHEAPER than we can buy it straight from Texaco! IT AINT RIGHT!

No, it ain't right, but your complaint is with Texaco, not WalMart.

[pittsburgh gop guy]

Volume, VOLume, VOLUME! I know it ain't right - but it is capitalism. I think Walmart is paying around 7-10 bucks an hour - it makes more sense than paying the minimum wage because then you have less turnover and turnover costs money.

I know that Walmart gets lots of their stuff from the chicoms - but damn - everything in the store is cheap. I don't get my clothes there (Target/EB), or know anyone that does, but they have tons of stuff for cheap.

[RFH]

Last year my Lawn Mower started making an awful banging noise (probably due to the fact that I ran it out of oil once). It had a Briggs and Stratton engine. I went to a lawnmower repair shop and found out that it would cost more to repair the lawnmower than to purchase a new one from Walmart -

I ended up buying a new, self-propelled mower on clearance at Walmart for $100, and threw the old one away.

[Lee_Atwater]

I don't even think fast food pays the government mandated wage. The market wage is well above the minimum in many areas.

WMT hires full time hourly labor -- if they need a full timer they pick a good part time worker and make him full-time. I am a night owl and sometimes go out to the "Super" Wall Mart to get groceries and other discount store stuff (ammunition, toothpaste, soap, etc). I was talking to the guy that stocks the dairy on 3rd shift and he told me the wages and benefits were good -- of course that all depends on who you are and what you want out of life. It is a stretch for some to call it "slave labor".

The stuff is very cheap, as you say. They are the model for retail operations as far as supply chain management too.

[reagan_fanatic]

"I guess Wal-Mart still pays their workers minimum wage.
Slavery is alive and well in the U.S."

My wife works at WalMart. In two years time she has been given four raises.
Granted, her wages aren't quite up there with Donald Trump's yet, but it's a good salary at a job she loves to do.

If you don't work, or do a poor job, minimum wage is where you'll stay.
Do your job, do it good, and your wages will increase. WalMart is a successful company who has EARNED the business they now enjoy.

Deal with it.

[chainsaw]

Joe Sixpack can go to WalMart and buy a case of Havoline oil at a price CHEAPER than we can buy it straight from Texaco!

Why don't you buy your texaco oil at Wal-Mart then?