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rgbecker

(4,890 posts) Fri Mar 28, 2014, 08:58 AM Mar 2014

Oh my Goodness! Sales down because of cut in SNAP. [View all]

Across the board, not just at Walmart.

Walmart is hardly the only retailer to be effected by a reduction in SNAP benefits, or to say so in financial documents. The dollar store segment is also vulnerable. Roughly $4 billion in SNAP benefits were vaporized, money that was once spent at U.S. stores, not just at Walmart. This was bad news for shoppers and retailers, across multiple channels.

As one grocery executive said in an online retail forum regarding the issue, “This cut hurts all of our sales, not just Walmart, let me make that clear. The struggle is universal for retailers, and sales are down around 8-10% since the first of the year.”

http://www.forbes.com/sites/lauraheller/2014/03/28/walmart-just-revealed-how-poor-u-s-shoppers-are/?partner=yahootix

35 replies

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Highlight:

Oh my Goodness! Sales down because of cut in SNAP. [View all] rgbecker Mar 2014 OP

The effect most of the critics of welfare fail to see liberal N proud Mar 2014 #1

They don't CARE Glitterati Mar 2014 #5

not really, they view the poor as exploitable resources unblock Mar 2014 #6

Agree ,yes, packman Mar 2014 #18

doing my geneology and found out my grandpa back in the day (mid 1600's?) was roguevalley Mar 2014 #32

Quick question for clarification FrodosPet Mar 2014 #34

actually since you don't know me I will give you the benny of the doubt roguevalley Mar 2014 #35

and to take this "president" with them..... a kennedy Mar 2014 #8

Here's what I think: they knew this would happen, and that there would be a rippling Squinch Mar 2014 #7

They have been intentionally trying to harm the economy since the election of 2008. Enthusiast Mar 2014 #9

Yep! oldandhappy Mar 2014 #10

That's the thing about a freemarket capitalist economy... CJCRANE Mar 2014 #2

But I bet "luxury purchases" like Yachts and Porsches are up ... Myrina Mar 2014 #3

The thing about luxury items such as yachts is that even the rich only buy so many of them and jwirr Mar 2014 #16

And that is why increasing Social Security payments almost pays for itself - djean111 Mar 2014 #4

+1! It is also why cutting social security would have a negative effect on the economy. Enthusiast Mar 2014 #12

And how many of these asshats Le Taz Hot Mar 2014 #11

No one could have predicted that. Well, except Moody's ... Scuba Mar 2014 #13

4 billion in food that someone was counting on eating Johonny Mar 2014 #14

Thank you! blur256 Mar 2014 #17

we looked into that when my husband lost his job fizzgig Mar 2014 #31

I can tell you from my own personal SamKnause Mar 2014 #21

Crime is up... butterfly77 Mar 2014 #33

He should have more faith in the Invisible Hand...... DeSwiss Mar 2014 #15

And now we see who the real "job creators" are caraher Mar 2014 #19

Wal Mart doesn't care because they're receiving the annual.. TRoN33 Mar 2014 #20

Keep voting Republican Corporate America. toddwv Mar 2014 #22

It's a shame that if we get SNAP funding restored, it won't be because people are hungry GiveMeMorePIE Mar 2014 #23

^ Wilms Mar 2014 #24

Punishment fetish out weighs common sense. ZX86 Mar 2014 #25

No SH*T, Sherlock! elleng Mar 2014 #26

This is a surprise to who? deathrind Mar 2014 #27

tank the economy before KT2000 Mar 2014 #28

Thanks! WhaTHellsgoingonhere Mar 2014 #29

Get on the teabagger Cons, walmart. Cha Mar 2014 #30