Thursday, May 19, 2011

Walmart Blames Falling Profits on Rising Gas Prices...Which Makes No Sense at All

Could be the gas prices, could also be the beached whales napping in your stores.

WSJ - Wal-Mart Stores Inc. Chief Executive Mike Duke reaffirmed the company's commitment to get U.S. sales back on track, but said customers are increasingly finding it hard to spend. There is "more pressure today than a year ago" on Wal-Mart's core customers, Mr. Duke said at an executive breakfast sponsored by The Wall Street Journal. (News Corp. owns The Wall Street Journal.) Customers continue to do heavy shopping at the beginning of the month when paychecks come in, but buying tapers off after that, showing they are already struggling. Consumers are now further pressured by rising fuel costs.

Yea, keep dreaming guys.  Dwindling sales and profits can't really be blamed on the gas crisis (yea, I've personally elevated it to the status of crisis) in this case.  People should be flocking to one stop shopping centers, specifically discount retailers, like Walmart during a period of gas inflation.  The less stops you have to make the better.  

May want to go back to the drawing board guys, could be because of rising gas prices, but its more likely your merchandise may suck and your clientele makes shopping in your stores undesireable for the every day, sanitary, human being.

If I have a choice of paying a few cents more at Target to shop in somewhat of a civilized setting I'll take it any day of the week. Clean it up guys, maintain some level of decency and order in your stores and maybe people will come back.  If I have to keep navigating unruly children who've been dropped off to your store as a form of day care, while dodging Land Monsters dressed in impossibly tight sweat pants and T-shirts 1 size too small I'm going to continue shopping elsewhere, even if it costs me more in gas.