Money The Last Store in the World
posted by on November 6 at 8:36 AM
The nation’s retailers saw their sales plummet last month in what is likely the weakest October in decades, as the financial crisis and mounting layoffs left shoppers too scared to shop.The drop-off from an already weak September performance is further darkening the outlook for the holiday season and dimming hopes for any industry recovery until at least the second half of next year.
As merchants reported their dismal sales figures Thursday, Wal-Mart Stores, the world’s largest retailer, proved to be among the few bright spots as it benefits from shoppers focusing on buying basics at discounters.
Wal-Mart is a company store at the national level.
I shop at Jim's Drugs.
Henry Ford understood the concept that his workers needed to be paid enough to buy one of the cars they were producing, or there would be no market for his wares. Wal-Mart continues this practice by ensuring their workers make enough money to buy half a discount baloney sandwich (with a slice of real American Cheese!) at the end of their shift. Everybody wins!
any success for wal-mart is a failure for the US. i wish people wouldn't shop at wal-mart (and i have family and friends who do). i'd rather go without than buy anything from wal-mart.
the discounts available at wal-mart come at a very high price - to those in third world countries providing the goods, to the underpaid wal-mart employees who can't even afford health insurance, and to all americans who want this country to be a strong country where the people who live here get to manufacture goods and earn TRUE living wages.
Every yr for the past several yrs the media reports that retailers are "bracing themselves" for extremely low spending during the holiday season. Then, miraculously when end of yr reports are given it turns out the public spent lots of $$$ after all! Don't worry retailers. We won't let you down.
I have only been to one Wal-Mart, and I didn't buy anything. I have no interest in returning, because it was full of dreadful people and country music.
BUT, it seems to me that criticizing Wal-Mart for selling the same crap that everyone else sells, but for less, makes no sense.
I seldom buy anything new, because everything is so shoddy. I did buy a new refrigerator recently, because the old one was a huge power waster, but the thing is so cheaply constructed that I wonder how long it will last. It was a floor model - I would never pay full price for something so chintzy.
Didn't Neiman Marcus sport unexpected sales in October?
@6,
That was all Sarah Palin.
Just Say NO to The WAL-Mart!
The only thing I've ever bought at Walmart was a box of shotgun shells which I quickly dispelled on Werehaeuser land near north bend after being dumped on my ass. It didn't make me feel better at all.
Walmart is doing well because broke people can't afford to eat if they shop at stores that give their workers benefits because those stores charge higher prices. Bulk buying and volume sales coupled with extremely efficient distribution and inventory tracking systems gives Walmart an additional edge.
Obama's healthcare plan will eliminate the incentive for Walmart to treat their employees like livestock. As our dollar devalues, the huge percentage of Walmart inventory that comes from China will become more expensive. Local business will get tax breaks and this trend will reverse.
Let's hope so anyway.