The world’s largest retailer is a mirror image of the U.S. working class. As middle America goes, so goes Walmart.
The retail giant posted a 21% decline in fourth quarter profits dropping its shares by 2%.
Charles Holley, Walmart’s CFO blames the sluggish report on a struggling economy along with a decrease in food stamps and higher taxes. How can this be when Washington and the Fed assure us that the U.S. recovery is continuing? Simply because one is based on factual sales or the lack thereof and one is based on foolish rhetoric.
In effort to adjust to the new economic reality American’s are facing the retailer is planning on developing smaller stores in hopes of expanding its reach into urban areas. Super-sized stores require super-sized sales and Walmart see’s the writing on the walls. Either cut overhead or consider selling the family business to Costco.
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