LOW BALL AND HOPE TO BEAT THE WORST…?

Wal Mart's October sales figures were in the toilet and Wall Street was not pleased. Now, faced with what could be its worst sales month in six years, the Bentonvile Behemoth is getting out in front of the free fall. Is this the way it desperately hopes to make another 0.3 percent growth month look good? Will anyone fall for it? From Bloomberg: Wal-Mart Stores Inc., the world's largest retailer, expects U.S. same-store sales to be unchanged this month, which would be the worst performance in at least six years. Sales at stores open at least a year increased 4.3 percent in November 2005. October same-store sales gained 0.5 percent, matching the estimate released five days ago, the Bentonville, Arkansas-based company said today in a statement. Wal-Mart had initially forecast an October gain of 2 percent to 4 percent. Wal-Mart said disappointing clothing sales and disarray from store renovations hurt October results. Chief Executive Officer H. Lee Scott told analysts last week that he expected sales to improve as the company offered holiday merchandise and gasoline prices fell. Wal-Mart debuted its holiday advertising yesterday. One of the interesting numbers out of the Bloomberg story was that the 0.5 percent sales growth touted in much of the press in the last week was actually only 0.3 percent for Wally World's front-line retail stores. The higher figure factors in sales its Sam's Club wholesale stores; a little factoid most seemed to have missed. Jeff Hess: Have Coffee Will Write.

3 Responses to “LOW BALL AND HOPE TO BEAT THE WORST…?”

  1. Cassandra Parente says:

    Have people given up fighting against the Walmart in Steelyard commons? Isn’t there anything that we can do?

  2. Jeff Hess says:

    Shalom Cassandra,

    First, thank you for stopping in, for reading and, most importantly, for taking the time to write a comment. It’s all about the conversation.

    The short answer is no. The Wal Mart will be built, it is in fact being built as I write this. The people of Cleveland got sold down the river by a short-sighted mayor who got trounced in her re-election bid.

    The longer answer, however is yes. There is always things that motivated citizens can do. If you read the stories posted here you’ll find case after case where a few citizens decided that they weren’t going to see their community destroyed by the Bentonvile Behemoth.

    I would encourage you to contact other groups and to also talk to the local chapter of Jobs With Jusitce to see how you can get involved.

    Jaclyn Stacy
    Cleveland JwJ
    20525 Center Ridge Rd #700
    Cleveland, OH 44116
    tel: (440) 333-7007
    fax: (440) 333-1491
    jstacy@cwa-union.org

    Feel free to contact me at hess@havecoffeewillwrite.com if you have other local questions.

    B’shalom,

    Jeff

  3. […] LOW BALL AND HOPE TO BEAT THE WORST…? Wal Mart’s October sales figures were in the toilet and Wall Street was not pleased. Now, faced with what could be its worst sales month in six years, the Bentonvile Behemoth is getting out in front of the free fall. Keep reading… […]

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