Walmart Sales Dip as Low-Income Americans Close Wallets

Shares of the world’s largest retailer dropped on news of a third straight quarterly drop in sales

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Walmart posted its third straight quarterly decline in United States sales on Thursday, pushing its stock price down 1.3 percent in pre-market trading and signaling a reluctance to spend among the company’s low-income customer base.

U.S. sales at the world’s largest retailer, including both in-store and online, declined 0.3 percent in the third quarter ending Oct. 31.

“That low-end customer is just not willing to step out and buy those discretionary items,” an analyst told Reuters. With an end to the payroll tax holiday and stagnating wages, low-income customers have been reluctant to open their wallets.

[Reuters]

1 comments
ne7minder
ne7minder

Only one thing to do now, CUT WAGES EVEN MORE!!!  Well, that and maybe reduce hours and eliminate any benefits employees might have been getting.  That will provide for larger CEO bonuses & everything will be perfect. These f'ing morons are destroying America by destroying the working class