Wal-Mart Stores Inc.’s latest struggles to revive U.S. sales, following a disappointing Commerce Department report earlier this week, add to evidence that the economy isn’t recovering as quickly as expected.
The company posted stagnant same-store sales in its second-quarter earnings report, marking the sixth straight period of no growth. The world’s largest retailer also cut its earnings forecast for the year, citing higher spending on health care and e-commerce.
The sluggish results followed disappointing earnings from Target Corp. and Macy’s Inc. this month, signaling that a broad swath of retailers are struggling. The Commerce Department’s report on July retail sales was the weakest in six months, hurt by tepid wage growth. While some of Wal-Mart’s woes reflect a shift away from big-box retailers, many consumers appear to be simply keeping their wallets shut.
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3 comments:
Yeh marty you libtarded fool how that min wage increase working for all of .. US!!!
But I thought McDonalds was HIRING!?!?!
I just am not shopping at Wal-Mart because I am trying to buy American and support stores with fair labor practices like Giant Food. For every employee that a Wal-Mart hires they kill 1.4 jobs in the local economy.....penny wise and pound foolish. I am voting with my money!
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