Walmart’s decision to raise wages first to $9 and then $10 an hour is already having positive effects on competitors, including Target, but getting even a raise to $20 an hour is not all that great when you work part time with no guarantee, week-to-week, of how many hours you’re going to work and, just, […]
Archive for the 'Walmart Loves Human Misery' Category
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NPR talks about what it’s like to shop when you’re really poor. No surprise, the story is mostly about Walmart: Wal-Mart noticed that sales were spiking on the first of every month. In a recent conference call with investment analysts, Wal-Mart executive Bill Simon said these midnight shoppers provide a snapshot of the American economy […]
Huffington Post: Wal-Mart Stores Inc. is offering to buy South African retailer Massmart Holdings Ltd. for about $4.25 billion in a bid to jump-start growth beyond its sluggish U.S. business. Not only is there a gigantic rich/poor gap in South Africa, I bet this will be the start of sourcing more food from that continent […]
The Goldman-Sachs talk with Walmart’s Bill Simon is a gift that just keeps giving. Wall Street Strategies analyst Brian Sozzi wasn’t paying as close attention as he should have when it comes to Walmart’s customers. In a note to investors Monday, Sozzi said: Wal-Mart needs to have a store concept that brings in customers more […]
I briefly noted Bill Simon’s underwear-for-Christmas remark earlier, but Al Lewis takes the story up a notch with increased detail but I swear I spewed coffee all over my laptop when I read this statement from Simon. Misery is money to Walmart. Unemployment, we all know, remains mid-9s and doesn’t appear to be going anywhere […]
Oddly enough, I believe I’ve been saying this for years.
Americans should demand good jobs. However, most Americans don’t have good jobs at a time when our country’s largest employer is Walmart. As UFCW President Joe Hansen points out this Labor Day: Unfortunately, Walmart provides the predominant model for retail jobs today. Companies like Walmart pay low wages and benefits, and provide mostly part-time jobs–practices […]
Anyone who reads this blog regularly, knows I love these stories: The new store in Livonia has already hired 350 people but still needs to fill 40 positions. The store’s manager says some of the people hired so far have no retail experience and have been out of work for two years or more. Unemployment […]
…and I hit a story headlined “Contesting Jobless Claims Becomes a Boom Industry”. Then I had a premonition that Walmart would be in it. Turns out I was right!: Advocates for the unemployed cite cases like that of Gerald Grenier, 47, who spent four years as a night janitor at a New Hampshire Wal-Mart and […]
This Wall Street Journal article is about the Walmart Chicago fight that Jeff has been covering. I, however, find this piece more interesting for the rhetoric rather than the location. Try this, for example: “As the economy has faltered, there has been a renewed appreciation among customers for the Wal-Mart brand,” said Julie Murphy, a […]
The theory runs that formerly up-market shoppers were spending what little money they had in the Great Recession at Walmart. When the money is gone, however, it’s gone and if MasterCard is declined, even Walmart won’t sell you the gallon jar of dill pickles. From MSN Money: Wal-Mart Stores has a problem: Its typical shopper […]
Continuing with the Walmart sales report stories, here’s the WSJ: In a conference call with analysts, Wal-Mart vice chairman Eduardo Castro-Wright said a drop in average ticket price as well as a “slight decrease in traffic during the quarter,” were behind the sales miss. We can’t help but wonder whether some of that traffic might […]