http://www.dailyfinance.com/2013/02/...otal-disaster/
Snippet: "February MTD [month-to-date] sales are a total disaster," said Walmart vice president of finance and logistics Jerry Murray in Feb. 12 e-mail to other executives. "The worst start to a month I have seen in my ~7 years with the company."
We already knew that retail sales were going to struggle to begin the year. The expiration of the payroll tax holiday meant consumers had less spending money in their pockets. And indeed, the first retail sales report since the end of the tax holiday showed spending growth grinding almost to a halt, with sales increasing just 0.1%.
But Walmart's sales woes appear to go beyond a mere slowdown. In another email obtained from Bloomberg, a senior vice president bemoans miserable January sales, asking
"Where are all the customers? And where's their money?"
I certainly do not feel sorry for them. They cut the throats (figuratively) for their vendors and their workers to rack up billions for themselves. They force themselves into small towns, even when the people there do not want them by building just outside the city limits. They could care less that they hurt local business. Many of their workers have to go on public assistance because walmart owners are cheapskates.
Before they came to my area, we had a couple of local Christian bookstores. Walmart doesn't have enough Christian literature to hurt them very much but Lifeway comes in and seals the coffin and dug the grave on their business. I won't shop at Lifeway.
In fact, I have cut my shopping down at Walmart sharply because I feel like I am shopping at a prison where I live. They demand to see your receipt at the door while they watch you check out. Or they embarrass you nearly to death when the cashier forgets to deactivate the RFID at the register and you set off the booming voice that causes the workers to run and hollar at you to stop.
When we go out to eat, I look for hometown family restaurants. I do my oil changes at the locals. I buy my tires at the locals. Whereever I can, I buy from my fellow neighbors.
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