Wal-Mart cuts full-year earnings forecast

[maseman]

Source: MSNBC/Financial Times

Wal-Mart, the world's biggest retailer, on Tuesday blamed the US housing slump and high fuel prices for disappointing second-quarter results and a cut in its full-year earnings forecast.

Lee Scott, Wal-Mart's chief executive, said the results were "not what we expected of ourselves".
"US consumers continue to be under difficult pressure economically," he said. "It is no secret that many customers are running out of money toward the end of the month."


Read more: http://news.moneycentral.msn.com/provider/providerarticle.aspx?Feed=FT&Date=20070814&ID=7324601

---

When Wal-Mart is having trouble selling the cheapest garbage on earth then you know the economy is sucking wind. Yeah, housing slump is hurting. But the price of fuel which is increasing the price of both food and retail goods is really hurting. Plus the coming winter months and fuel oil/natural gas prices will again kill people in the Northeast and Midwest especially.

When will it fucking end with the Shrub and his faux economy?

[billyoc]

1. How will I poison my kids/pets if they go under? n/t

[phusion]

2. awww

so sad.

:sarcasm:

[Sherman A1]

3. The wise man once told me

Most wounds are SELF-INFLICTED, so now Wal Mart is getting a taste of what they started. Their lead for the race to the bottom is now just maybe starting to bite them in the A**. Too Bad for them. Unfortunately it is bad news for everyone else as we are pretty much all screwed in this deal, they are just becoming the latest victims of stagnate wages, cheap imports, outsourcing, minimal benefits, etc.

I loathe Wal Mart, but this is not good news.....





:scared:

[ClintonTyree]

4. But KKKarl Rove said.....

that Bush's economy is booming! The recession that Bush "inherited" is a thing of the past thanks to the Bush "economic miracle".

Hey, KKKarl said it and KKKarl NEVER lies! :shrug:

Wal*Mart must be mistaken. They'd better check those figures again. Everything is coming up roses. :sarcasm:

[Theduckno2]

5. I am inclined to believe that people are resisting impulse buying.

I am no economist but I think people are just less inclined to pop out to the store and once in the store they are less likely to make those impulse buys that retailers use to boost their profits.

I have to believe that Mr. and Mrs. America are a lot less likely to give in to Junior's whining for candy at the checkout line. People are inclined to buy what they need and make fewer trips to the stores to engage in recreational shopping.

[Cobalt Violet]

6. Maybe they should ship that shit back to China .

Maybe they'll have some luck selling it over there. More and more people are getting sick of Chinese cheap poisonous crap.

[grilled onions]

7. ....At the end of the month???

Attention please all idiot executives who think money troubles start only towards the end of the month, there are actual human beings out there,working class people who start out every month in the hole. Before the first day of the month is done they already know that there will be more bills then money to pay it by the end of that month. Wages are stagnant while costs climb every day. They don't make a huge dent on Wall Street because the only things they invest in is the "grocery market" where money never stretches the way it should. After rent and utilities they really don't have the cash to power shop the way big business hopes they would. There is no sale strong enough to get them to hit the stores if there is no money.