The MSM tries desperately to spin the Wal-Mart declining earnings as a positive. They stress that Wal-Mart’s comparable sales were positive for the first time in the last 10 quarters. But read the story. TRAFFIC DECLINED!!!!!
They had less customers, but sales rose because prices were much higher. That’s called INFLATION folks. Wal-Mart wasn’t able to pass all the inflation on to the customers. That is why their profits declined. This isn’t rocket science.
Read the comments of the CEO carefully. Wal-Mart knows there customers. they have the best computer systems on the planet.
“While we feel good about the progress in our stores, our customers remain concerned about jobs,” Chief Executive Mike Duke said in a pre-recorded call, adding only one in 10 mothers shopping at its stores view the state of the U.S. economy as good. “They want to save money.
They are juggling credit cards, using coupons and skipping restaurants and vacations.
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