Wal-Mart lost shoppers during the holidays

[47of74]

Source: CNN

NEW YORK (CNNMoney) -- Despite aggressive price-slashing, free shipping and other gimmicks, Wal-Mart lost shoppers during the critical Christmas shopping period, resulting in a same-store sales decline in its fourth quarter.

Wal-Mart (WMT, Fortune 500), the world's largest retailer, reported an overall 1.1% decline in its same-store sales -- it's seventh straight decline in the quarterly measure, this time in the period that includes the key November-December gift-buying months.

Same-store sales, which measure sales at stores open at least a year, are an important gauge of a retailer's overall performance.

The discounter, which operates both its namesake discount stores and Sam's Club warehouse stores, said same-store sales declined 1.8% in its Wal-Mart U.S. stores.

Read more: http://money.cnn.com/2011/02/22/news/companies/walmart/index.htm?hpt=T2

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:sarcasm: My heart is just breaking over that news. :sarcasm:

[redwitch]

1. How careless of them!

with apologies to Oscar Wilde

[CountAllVotes]

2. The IRS wanted to give me a Wal-Mart gift card

Somehow I am due a $53.00 refund this year. :wtf: They offered me a Wal-Mart gift card or suggested I buy a Series I Savings Bond with this refund (I was using TurboTax btw). I did not bite on either offer, just send me the damn check!

There is luckily no Wal-Mart where I live. If there was a Wal-Mart here, I'd never go to IT.

Now the truth comes out some 2 mos. post-Xmas. :nopity: :nopity: :nopity:

[hedgehog]

8. That wasn't the IRS - that was a side deal TurboTax has with WalMart.

[CountAllVotes]

11. what about the Series I Saving Bond option?

Who is in on that side of the deal? The Federal Government is who! :puke:

Right now I believe that Series I Savings bonds are paying 0%. :dunce:

:dem:

[samplegirl]

3. Those poor effing rich!

[Frisbee]

4. Hopefully only the beginning of their fall. eom

[glinda]

5. We pay their taxes and take the hit loosing jobs isn't that enough?

[Javaman]

6. Corpse in isle 5. nt

[LiberalEsto]

7. People are shopping at Dollar Stores instead

Mall-Wart is too expensive for us.

[hedgehog]

9. Exactly! WalMart's success depends on the middle class having

at least a little bit of spending money! Rich people shop elsewhere.

As a side note - this is further poof if any is needed that we need to tax the uber rich in order to sustain any economy. This isn't about redistributing wealth of people taking their fair share any more - this is the first sign that the entire machine is grinding to a halt because the money is ending up in too few hands and staying there instead of continuing to circulate.

[prolesunited]

10. Middle class shops at

Target and Kohls, not WalMart.

[CountAllVotes]

12. yeah, cat food and dog food is cheaper there

I am serious about that btw. Where the hell is this country going other than quickly down the drain! :(

:kick:

[liberal N proud]

13. It is all year over year based results

Makes the years after good years look really - really bad.

Show the trend over several years to see what the affect actually is.

[progressoid]

14. They'll manage to make up the loss by exploiting some employees,

exploiting some third world manufacturing employees & closing a few stores in towns they've already destroyed.

[AndyTiedye]

15. People Are Getting Fed Up With MalWart

:nopity:

[JNelson6563]

16. I hope this continues.