Walmart

Bad weather and federal cuts to the food stamp program are the reasons cited by Wal-Mart for its lowered fourth-quarter profit expectations. According to Wal-Mart’s CFO Charles M. Holley Jr., although the holiday season went really well for the big box retailer, SNAP reductions were  “greater than we expected,” the New York Times reports.

Last year, the Supplemental Nutrition Assistance Program received billion dollar cuts, and will also receive more cuts in the coming weeks. The cuts affected more than 47 million people, and yielded them unable to afford Wal-Mart’s prices.

Then there was the weather.  Winter storms have not only closed Wal-Marts but also affected operating statuses at Sam’s Club.  Sam’s Club will also feel the brunt of the company’s financial issues when layoffs hit 2, 3000 employees and one store closure.

Woe is Wal-Mart. Sarcasm alert.

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  • seriously?

    More like woe those ppl…:(

  • Walmart is ridiculous. They are the largest producer of people in poverty since they refuse to pay livable wages or allow their employees to unionize. They can miss me with this bogus attempt to blame anything but themselves for their lack of productivity.

    Weather aside, this is good news. Folks aren’t patronizing Walmart as much. Hopefully, it’s because they are acknowledging the company’s piss-poor public responsibility record.

    • Anthony

      If Wal-Mart paid a living wage, they would have a nearly automatic rise in profits from their own employees buying merchandise. Wal-Mart raising wages would also force their competitors to raise wages and boost the economy.

  • RJ

    Wal-mart is one of the worst things to happen to our economy. Actually, I should say Wal-Mart after Sam Walton’s greedy children took over after his death.

    They hire a lot of black people in executive positions, but that does not excuse the negatives.

  • Awww, woo woo woo (tongue firmly in cheek).