WalMart CEO Duke: Shoppers running out of money

Reply Thu 28 Apr, 2011 07:06 pm

Discussion on FR:



NEW YORK (CNNMoney) -- Wal-Mart's core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.

"We're seeing core consumers under a lot of pressure," Duke said at an event in New York. "There's no doubt that rising fuel prices are having an impact."....

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Reply Thu 28 Apr, 2011 08:00 pm
Maybe; maybe not. I was killing time waiting at the Walmart pharmacy yesterday and wondered through the bakery department. They had a cute little (and I mean little) bundt cake for $9.99. That's a lot of money for a couple of bites of cake when the identical item sells for $2.99 at Smith's (Kroger). The message they might take from this is that if they want to position themselves as the low price leader, they're going to have to have low prices.

Ah, maybe they're right. High gas prices do keep me from driving across town to pay an extra $7.00 for a small cake.
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Reply Thu 28 Apr, 2011 08:23 pm
poor babies
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Reply Fri 29 Apr, 2011 02:32 pm
Walmart is the only place i can find my 89 year old mother "housecoats" - you know, those dress/pajamas that snap up the front.

Other than that, I think it's a bunch of Chinese junk.

I think the weather and the time of the year has more to do with it than anything. When people get their tax refund, sales will go up.

Everyone is crying about the FIRST quarter sales. Next quarter will be much better, I predict.
Reply Fri 29 Apr, 2011 03:07 pm
Depends on when the effects of our new, lower valued dollar take effect. Big retailers probably place orders six months or so in advance. After that, the stores that depend on imported merchandise may be in kind of a bind. Walmart comes to mind.
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