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 ...
That's true at my store. Seems that now everything is labeled the GV brand. The others have gone bye bye.
hmm....GV = Government? hmmmm....
You may see a variety of cards with what I think is the Quest logo you sometimes see displayed at stores, gas stations, etc.
Here are Wisconsin Quest cards.
This is California's card.
The federal foodstamp program -- now called SNAP -- has a card that looks like the one here. This is the card I see most frequently at Wally World.
Notice how great it is that organizations go out and drum up business for federal foodstamp programs! (Huh?)
Guess who is the bank that gets all the foodstamp EBT business? JP Morgan.
I’m seriously over working, been working 3-5 jobs since I was around 10, now work one job theoretically but really three since they laid everyone off... All to support the leeches and moochers, who are rapidly overtaking us.
And to make it worse, I don’t even have kids — so am paying even more to support the rioting, screaming, illegal alien spawn (not sure if you heard about what happened in Tucson a few days ago).
And they all ALWAYS have their greedy paws out for more taxes, more freebies, more everything. All while my back literally gives out.
It all used to be for something, now it’s for nothing as the US has all but collapsed. And any decent values in these outlying Communist areas, all gone.
Whose foot did Goldman Sachs run over for that to happen? :p
Ya!! All those tens of millions that lost their jobs and homes, they just didn't want to work!!!
Lazy!!
“those who are paying in right now will indeed see their checks come through. “
No they won’t, not most of them. We’re beyond broke. I’m happy for you that your checks are still coming, but it’s an entitlement, not a return on investment. That’s just the way it is.
“You stated something inane about the court holding that ss was not a return of invested money”
No, it was litigated that it was a tax, just like any other tax. It’s not an investment - it’s just a plain ol’ tax.
again - not good or bad, it just is.
I’m a couple dozen years behind you. I will not see what you get - a check in the mail from uncle sam every month.
Nobody my age, or younger will get what you get. So don’t pretend it’s something it is not. Not to me. cash your checks, convince yourself it’s a return on investment - but you are only fooling yourself.
I go out of my way to avoid Wal-mart at the first of the month.
Their facial expression was did I just hear that to no, you did not say that.
When you talk to other people, just insert it into your conversation and see their reaction. Its a phrase that sticks subliminally...<<<
I hear ya. However, I run my own biz, and, never really know my clients politics. If I piss them off, I don't eat that week, and perhaps will lose the client. I'm sure you understand.
I truly hate and I mean Hate! the PC crap that revolves around the Marxist 0pansy.
P.S. The reason I noticed this was one day I standing in line and the person in front of me was sort of waving her card around while unloading her cart.
The American flag on the card caught my eye. I thought, “That’s great! I love seeing people choose the flag for their stuff.”
I honestly thought it was probably from a military credit union as we have a lot of military in the area.
Then I noticed the woman two carts up also had a card with an American flag on it — the same card.
Now I am curious.
So I kept my eyes open and, yep, a lot of people were using federal EBT cards at Wally World.
‘Course I only had a hunch at the store. I came home and googled it out of curiousity. There was the card, with that big ole, glorious American flag design on the front.
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.
They're all lazy...there are plenty of jobs, everyone is getting big pay raises to keep up....The economy is doing great, free trade is good!
If this is a sign of the times, it’s not encouraging.
Take a look at the one, ten, twenty, fifty, and hundred dollar bills... yah, a bunch of old dead white guys.
I'm surprised Hussein Obama's photo isn't printed on that EBT card.
OMG. That’s sickening.
I know someone who just applied for food stamps, and their assets (and any change such as buying or selling a car) are counted in the calculation. This was as of March.
I’m thinking instead of sticky’s with “How’s that hope and change working out for ya?” I’ll put ones out there that say....”We’re living under the Obama Depression. How’s that hope and change?”
Did you hear Dennis Prager the other evening....a guest asked him....basically, “when can it be immoral to PAY taxes”.....he qualified his answer with “I’m a public person so I pay EVERY penny possible, however, for others I can see where there is a time/amount when it IS IMMORAL to pay any more taxes.” (Paraphrased).
Not only gas prices, but Walmart prices are going up. Just went there today and saw distinctive increases. Probably gas-related, as shipping is more expensive too.
415/gal here in NE Ohio. I deliberately avoided getting gas today, although I needed it, hoping that it will decrease tomorrow, as it sometimes does day to day. Not holding my breath though.
When I was a member of Uncle Sam’s Flying Circus I got paid on the first and the fifteenth.
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