WALMART Profits Drop 21%....

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21 Feb 2014, 5:58 pm

^^^Yeah, well you cannot blame a journalist for making a sensational headline....

Here's the story on those losses...
(CLICK)

Quote:

For the fiscal year, Wal-Mart's consolidated net income was $16 billion, down 5.7 percent from nearly $17 billion the year before. Diluted earnings per share fell 3.2 percent, from $5.01 to $4.85. Consolidated net sales and total revenue each increased 1.6 percent.

Wal-Mart said the earnings per share would have been 26 cents higher for the year and fourth quarter if not for staff restructuring at Sam's Club, one Sam's Club closure and several impacts from foreign operations, including non-income tax contingencies in Brazil, store closures there and in China, and lease expense charges in China.

Doug McMillon, president and chief executive officer of Wal-Mart Stores, said the retailer would "continue to grow our global business by focusing on customers and serving them how they want to be served." He said Wal-Mart would look to boost comparable-store sales (which were down at U.S. Wal-Marts 0.4 percent in the quarter and 0.6 percent for the year), continue focusing on Wal-Mart's online strategy and open more smaller locations.

That part in bold is still the important bit. Walmart's same store domestic sales have shrunk for the last two quarters. This is totally due to low wage economy and government benefit cuts.

So, let's keep on topic, ehh?

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lotuspuppy
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21 Feb 2014, 5:59 pm

There are a couple of things at play here. One of them is that WalMart has performed so poorly in emerging markets (which is not surprising, given the recent trouble they have been seeing). Another is that the U.S. market is nearly saturated. They have built most of the big box stores that they could.

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21 Feb 2014, 10:55 pm

Walmart has no one left to steal from than Walmart.

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21 Feb 2014, 11:19 pm

Fnord wrote:

Supply-and-Demand works.

Wal Mart supplies goods that are not in demand, thus their profits are down.

Maybe they'll even close a few stores.

Or sell different products. No doubt they will be made in China.

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21 Feb 2014, 11:48 pm

The only consistent reason I go to Wal-Mart now is for my cell phone's monthly service cards; otherwise, I tend to stay away. Most folks who work there aren't in their proper departments, and the few who are don't seem to know much. Add in the fact that half their checkout lanes are usually empty (even at Christmas!), and I'm surprised they haven't gone bankrupt in the last decade.

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ooOoOoOAnaOoOoOoo
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21 Feb 2014, 11:52 pm

I don't go as much as I did when it was the only place around.

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22 Feb 2014, 12:27 am

My favorite thing about Wal-Mart is the DVD trough. It's just a giant pit full of discount DVD's. Like, there's no way to look at what they have for sale without abandoning your dignity. There's no "cool" way to burrow into a vat of cheap DVD's.

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22 Feb 2014, 12:36 am

TheGoggles wrote:

There's no "cool" way to burrow into a vat of cheap DVD's.

Speak for yourself, man!

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22 Feb 2014, 12:46 am

Although, as a real miser, I realize that there's no reason to get DVDs when you can get a tonne of films off Netflix.

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ooOoOoOAnaOoOoOoo
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22 Feb 2014, 1:46 am

TheGoggles wrote:

You can get better at Amazon.com and all you need to do is spend $25 and the shipping is free.

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22 Feb 2014, 2:30 am

ooOoOoOAnaOoOoOoo wrote:

TheGoggles wrote:

You can get better at Amazon.com and all you need to do is spend $25 and the shipping is free.

What about just buying movies off the internet for streaming on the internet directly?

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ooOoOoOAnaOoOoOoo
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22 Feb 2014, 3:04 am

Master_Pedant wrote:

ooOoOoOAnaOoOoOoo wrote:

TheGoggles wrote:

You can get better at Amazon.com and all you need to do is spend $25 and the shipping is free.

What about just buying movies off the internet for streaming on the internet directly?

I like to have something for my dvd player. I also have Netflix it's just there's other movies I want to watch.

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22 Feb 2014, 3:37 am

ooOoOoOAnaOoOoOoo wrote:

Master_Pedant wrote:

ooOoOoOAnaOoOoOoo wrote:

TheGoggles wrote:

You can get better at Amazon.com and all you need to do is spend $25 and the shipping is free.

What about just buying movies off the internet for streaming on the internet directly?

I like to have something for my dvd player. I also have Netflix it's just there's other movies I want to watch.

I mean the types of videos, particularly on youtube, one sees listed for a certain amount of money.

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25 Feb 2014, 5:08 am

Good because Walmart sucks they treat their employees like garbage and the place is always crowded with welfair recipients with too many kids and the lines are always long and the place is always packed!...yeah the prices are good but then again I can always go to Target for higher quality goods for similar prices.

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25 Feb 2014, 10:53 am

Quote:

Apparently the food stamp cut hit them hard. Some are speculating that Walmart might actually endorse Obama's minimum wage increase.

2013 was not a good year for them. They have already been talking about encouraging a return to domestic manufacturing.

Bout damn time. That's how we are get this county going. We've got to bring back manufacturing jobs.

I'm wondering if they are positioning themselves to be a "company store." Sure we pay higher min wage, but you spend it all with us.

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