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Wal-Mart (WMT) Sales in Decline
The much-anticipated earnings report from Wal-Mart Stores Inc. (NYSE: WMT) and new data from the U.S. Department of Commerce yesterday (Thursday) showed that consumers are not only reeling in their discretionary spending, but may also be pulling the reins on the necessities.
Retail sales fell 0.1% in July from the previous month, and 8.3% from a year ago, the Labor Department said. Excluding auto sales, the sales declined 0.6%. A Bloomberg News poll of 76 economists projected sales including autos to rise 0.8%.
Grocery stores, where consumers find many necessities, saw their sales decline to $43.74 billion in July, down 1.4% from June’s $43.87 billion.
The…
14Aug2009 | Money Morning | 0 comments | ContinuedYou Should Be Getting Excited About 2009
Sometimes it seems there’s just no light at the end of the tunnel. Even those of us who try to look at the bright side of things are getting worn down a bit. On the surface, it seems like there is nothing good coming around the corner.
Housing prices continue to drop. Commercial real estate prices are catching up fast. State budgets are facing deep deficits and a couple of them (Michigan for sure) are headed for bankruptcy. Retailers are cannibalizing each other by slashing prices just to get any sales at all (ain’t capitalism grand – if you’re prepared?).
To top…
30Dec2008 | Q1 Publishing | 0 comments | ContinuedThe One Global Market Where There are Gains Behind the Gloom
It’s easy to be gloomy when it comes to the financial markets.
It’s even easier to write off China.
After all, the Red Dragon’s markets have collapsed by 70%, businesses are shutting down, lead-laced toys and poisoned medicines have tainted the minds of Western consumers, there’s a growing gap between the rich and the poor, inflationary clouds seem to be gathering, and verbuilding is a growing concern.
And that’s just a partial list.
Story continues below…
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The situation has gotten bad enough that China’s economic growth…
21Nov2008 | Money Morning | 0 comments | ContinuedHarry Dent Calls for 40% Additional Drop Home Value
“The median U.S. home price is going to $120,000…” – Harry S. Dent Jr.
By Q1 Publishing,
It doesn’t look like homeowners will get any reprieve from home prices soon enough.
Harry S. Dent Jr., who provides forecasts based primarily on demographic shifts, recently stated the bottom is a long, long ways away.
Harry Dent, American demographer, economist and writer, predicts the median U.S. housing price is going to $120,000. This is significantly lower than the 2007 median U.S. home price of $191,000 which is the lowest level since 2004.
In an interview with Goldseek Radio (listen to interview here) Dent further adds:
“We’ve seen…
Wal-Mart Getting Roll-Back Pricing on Taxes?
Ads featuring Wal-Mart (NYSE: WMT) are all over the television recent days. Normally, that would be a good thing for the discount retailer. In this case, however, Wal-Mart is being used in a Barack Obama political ad. The ads claim that John McCain is giving millions of dollars in tax cuts to Wal-Mart “and millions more to its CEO.” Seeking to play off the resentment many small communities and small business owners feel when a Wal-Mart store opens up in their towns, the Obama campaign is using the company as a surrogate for the evils of big business and the politicians…
23Sep2008 | Managing Money | Comments Off | Continued
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