Wal-Mart outlook hit by store closings, food stamp cuts

[OnePercenter]

NEW YORK, Jan 31 (Reuters) - Wal-Mart Stores Inc Friday cut its quarterly profit outlook because of a host of issues, including reduced food stamp benefits and the restructuring of Sam's Club's in the United States and the closing of stores in Brazil and China.

"Wal-Mart caters to lower-income consumers which have been hit disproportionately hard," said Morningstar analyst Ken Perkins.

About 20 percent of the company's shoppers are food stamp recipients, analysts have estimated.

Wal-Mart outlook hit by store closings, food stamp cuts - Yahoo Finance

A large group of Walmart employees are on food stamps because their pay is so low, and this model Republican company is also hurt by food stamp cuts meant to cause their customers to starve to death? What kind of business plan is that?

 

[R.C. Christian]

Model republican company? Pfffft.

 

[nitroz]

Ohh, look at that. Hardcore conservtives screwed over by their own. Who knew that hurting the poverty more would have negative effects.

 

[Gracie]

I wish walmart would dry up and blow away. Just like they have done to struggling mom and pop businesses over the years. **** walmart. Maybe they can lower the wages of their employees, get a few more insured and have them sign Walmart as beneficiary if that employee dies, and give their ceo's and pals huge million buck bonus checks while they pretend to give a damn.

 

[skookerasbil]

NEW YORK, Jan 31 (Reuters) - Wal-Mart Stores Inc Friday cut its quarterly profit outlook because of a host of issues, including reduced food stamp benefits and the restructuring of Sam's Club's in the United States and the closing of stores in Brazil and China.

"Wal-Mart caters to lower-income consumers which have been hit disproportionately hard," said Morningstar analyst Ken Perkins.

About 20 percent of the company's shoppers are food stamp recipients, analysts have estimated.

Wal-Mart outlook hit by store closings, food stamp cuts - Yahoo Finance

A large group of Walmart employees are on food stamps because their pay is so low, and this model Republican company is also hurt by food stamp cuts meant to cause their customers to starve to death? What kind of business plan is that?

shit s0n.....when you read books, you're not supposed to stop after reading the preface and chapter 1.


wtf??!!

 

[Moonglow]

It is not the fact that Wal-Mart pay is low, they work you only part time so the Waltons and the rest of the board can live in luxury.

 

[Iceweasel]

Find out who makes full time employees so expensive and you'll understand who to blame for all the part timers. And most of the new jobs are part timers, not just at Wally World.

 

[Moonglow]

Wal Mart has done this since I quite them in 1986, that is why I quite.
Sam made us sign a no union statement and promised us 40 hours if we did it. Then came the slow season and he ask us to take voluntary layoff. When no one volunteered he cut our hours to 20 hours a week.
They still do it to this day, my wife works for them.
This happens in the warehouses and the stores, not the main headquarters in Bentonville, Ark.

 

[Moonglow]

Find out who makes full time employees so expensive and you'll understand who to blame for all the part timers. And most of the new jobs are part timers, not just at Wally World.

Then make the CEO's and store managers part time.

 

[TheGreatGatsby]

Find out who makes full time employees so expensive and you'll understand who to blame for all the part timers. And most of the new jobs are part timers, not just at Wally World.

It's true. Mandatory (artificial cost) health benefits have eliminated millions upon millions of full-time jobs. DEMOCRAT-STYLE Govt. is intentionally making a class of haves and have-nots.

 

[Moonglow]

Find out who makes full time employees so expensive and you'll understand who to blame for all the part timers. And most of the new jobs are part timers, not just at Wally World.

It's true. Mandatory (artificial cost) health benefits have eliminated millions upon millions of full-time jobs. DEMOCRAT-STYLE Govt. is intentionally making a class of haves and have-nots.

Then why did it occur before the ACA? Wal Mart insurance is not cheap either.

 

[R.C. Christian]

If it wasn't for Wally I wouldn't have a job but I'm probably going to hell for being an IT vendor complicit in their tyranny.

 

[westwall]

When Wal-Mart was founded they were a good company, the owners cared about their employee's etc. Then a bunch of Harvard Business pricks took the company over and now it is soulless. My family does not shop there. We shop at Target or Costco. Wal-Mart KILLS local businesses and because of their blind quest for low cost product almost mandate that material be manufactured in China.

Wal-Mart is doing more harm to the US than any other company with the exception of Goldman Sachs who are even worse. And looky who Obama puts in government. Goldman Sachs execs.

What an asshole.

 

[R.C. Christian]

When Wal-Mart was founded they were a good company, the owners cared about their employee's etc. Then a bunch of Harvard Business pricks took the company over and now it is soulless. My family does not shop there. We shop at Target or Costco. Wal-Mart KILLS local businesses and because of their blind quest for low cost product almost mandate that material be manufactured in China.

Wal-Mart is doing more harm to the US than any other company with the exception of Goldman Sachs who are even worse. And looky who Obama puts in government. Goldman Sachs execs.

What an asshole.

You're almost completely correct.

 

[TheGreatGatsby]

When Wal-Mart was founded they were a good company, the owners cared about their employee's etc. Then a bunch of Harvard Business pricks took the company over and now it is soulless. My family does not shop there. We shop at Target or Costco. Wal-Mart KILLS local businesses and because of their blind quest for low cost product almost mandate that material be manufactured in China.

Wal-Mart is doing more harm to the US than any other company with the exception of Goldman Sachs who are even worse. And looky who Obama puts in government. Goldman Sachs execs.

What an asshole.

My university teaches the value of low cost products. It's not just 'the Harvard pricks.' And Target and Costco are also thriving because they offer value. There's room for both models. And Wal-Mart is not the one doing the harm. They play by the rules. The government is the ones selling you out at every turn.

 

[Iceweasel]

Wal Mart has done this since I quite them in 1986, that is why I quite.
Sam made us sign a no union statement and promised us 40 hours if we did it. Then came the slow season and he ask us to take voluntary layoff. When no one volunteered he cut our hours to 20 hours a week.
They still do it to this day, my wife works for them.
This happens in the warehouses and the stores, not the main headquarters in Bentonville, Ark.

I don't understand. They promised you and your wife 40 hrs a week if you didn't join the union. You didn't then they cut your hours but you didn't mention the big lawsuit you filed. It must have come to court by now.

Then make the CEO's and store managers part time.

I don't think you grasp the concept of what CEOs and managers do.

 

[R.C. Christian]

When Wal-Mart was founded they were a good company, the owners cared about their employee's etc. Then a bunch of Harvard Business pricks took the company over and now it is soulless. My family does not shop there. We shop at Target or Costco. Wal-Mart KILLS local businesses and because of their blind quest for low cost product almost mandate that material be manufactured in China.

Wal-Mart is doing more harm to the US than any other company with the exception of Goldman Sachs who are even worse. And looky who Obama puts in government. Goldman Sachs execs.

What an asshole.

My university teaches the value of low cost products. It's not just 'the Harvard pricks.' And Target and Costco are also thriving because they offer value. There's room for both models. And Wal-Mart is not the one doing the harm. They play by the rules. The government is the ones selling you out at every turn.

Don't kid yourself. In 1993 Wally took out a death policy without my permission for them to do so. It's a vile corporation and I absolutely hate it.

 

[TheGreatGatsby]

When Wal-Mart was founded they were a good company, the owners cared about their employee's etc. Then a bunch of Harvard Business pricks took the company over and now it is soulless. My family does not shop there. We shop at Target or Costco. Wal-Mart KILLS local businesses and because of their blind quest for low cost product almost mandate that material be manufactured in China.

Wal-Mart is doing more harm to the US than any other company with the exception of Goldman Sachs who are even worse. And looky who Obama puts in government. Goldman Sachs execs.

What an asshole.

My university teaches the value of low cost products. It's not just 'the Harvard pricks.' And Target and Costco are also thriving because they offer value. There's room for both models. And Wal-Mart is not the one doing the harm. They play by the rules. The government is the ones selling you out at every turn.

Don't kid yourself. In 1993 Wally took out a death policy without my permission for them to do so. It's a vile corporation and I absolutely hate it.

If govt. did not interfere with healthcare; it'd be much better off. Then we would be able to properly analyze how or how not Wal Mart is screwing people over. But their workers being on food stamps is not the problem. The fact that a worker can work 30-40 hours a week and be on food stamps is the problem. And that's on the government.

 

[OnePercenter]

My university teaches the value of low cost products. It's not just 'the Harvard pricks.' And Target and Costco are also thriving because they offer value. There's room for both models. And Wal-Mart is not the one doing the harm. They play by the rules. The government is the ones selling you out at every turn.

Don't kid yourself. In 1993 Wally took out a death policy without my permission for them to do so. It's a vile corporation and I absolutely hate it.

If govt. did not interfere with healthcare; it'd be much better off. Then we would be able to properly analyze how or how not Wal Mart is screwing people over. But their workers being on food stamps is not the problem. The fact that a worker can work 30-40 hours a week and be on food stamps is the problem. And that's on the government.

Yes, if Reagan hadn't screwed with the HMO act you'd be economically better.

 

[Moonglow]

Wal Mart has done this since I quite them in 1986, that is why I quite.
Sam made us sign a no union statement and promised us 40 hours if we did it. Then came the slow season and he ask us to take voluntary layoff. When no one volunteered he cut our hours to 20 hours a week.
They still do it to this day, my wife works for them.
This happens in the warehouses and the stores, not the main headquarters in Bentonville, Ark.

I don't understand. They promised you and your wife 40 hrs a week if you didn't join the union. You didn't then they cut your hours but you didn't mention the big lawsuit you filed. It must have come to court by now.

Then make the CEO's and store managers part time.

I don't think you grasp the concept of what CEOs and managers do.

No it was just me at the time, my wife currently works for them and this time of year they cut hours from 32 to 15-20.
Like I have enough dough to sue a company that would take me many years and a high law bill.
I just got another job that I worked plenty of hours like I like, which is 50-60 hours a week back then.