http://www.washingtonmonthly.com/political-animal-a/2014_02/walmarts_holiday_profits_are_w048890.php
The Financial Times reports that, according to estimates, fourth quarter sales and profits were down for Walmart, the nation’s largest retailer. Previously, Walmart had announced that sales were expected to be flat, but now it’s saying sales are likely to be “slightly negative.” Official results are due out on Feb. 20.What’s especially interesting is that Walmart is citing food stamp cuts as one reason for declining sales. Fully 20 percent of Walmart’s customers use food stamps.The article notes that Walmart isn’t the only retailer that experienced a bad fourth quarter last year. Outlets from Sears to Best Buy to Amazon experienced flat sales or slowed growth.But all of this bad business news is continuing evidence that the economy has yet to recover from its prolonged, Japan-style slump.I’m particularly struck by the example Walmart’s declining sales provides of the wages of austerity economics. The government induces cutbacks, people have less money in their pockets, businesses suffer.The next step is that those same businesses start laying off people. Then the G.O.P. geniuses start telling us “It’s time to tighten our belts,” and it’s lather, rinse, repeat.
if not for those affected by the heartless republican congress's cuts to food stamps i would throw a party, Walmart doesn't pay fair wages they ask employee's to help kick in so those who are suffering can have a good holiday all the while taking in a 39 Billion with a B net.
the only thing they should do is pressure republicans to resend the food snatching tactic in favor of fair taxes of corporations and other super rich, or continue to lose customers.
a changing of ways and politics will bring things back and would have 5 years ago but they set about trying to destroy Pres. and the economy to make him look bad, but now the big business suffers because their denials forced a choice home and feed the kids or Walmart sale this weekend.
cutting into profits is a no no i think big business will not want to lose revenue for long and stat reeling in those who oppose.
