Yesterday The Wall Street Journal had a story about Wal-Mart’s results.
I found two aspects of the story notable. First, the sales results seemed particularly low in relation to the recent widespread media coverage of strong retail sales. Wal-Mart “said that U.S. sales at stores open at least a year fell 1.1%, and store visits dropped despite recent attempts to attract shoppers with price cuts.”
Second, a comment in the story caught my attention. CFO Tom Schoewe is quoted saying, “More than ever, our customers are living paycheck to paycheck.”
I’ve commented on this “paycheck to paycheck” issue previously. It is a very unfortunate situation and one that is a testament to the widespread lack of prosperity. While accurate statistics of the “paycheck to paycheck” situation are hard to find, it seems as if it is a widespread condition among many income levels.
back to <home>
SPX at 1115.05 as this post is written