Here We Go: Wal-Mart Cuts Guidance, Blames Foodstamps, Weather

Saturday, February 1, 2014
By Paul Martin

by Tyler Durden
ZeroHedge.com
01/31/2014

That didn’t take long. Moments ago the world’s largest retailer (sorry AMZN) WoeMart (sic) just confirmed what everyone who is not an economist knows – the US consumer is barely alive. The reasons: cut in foodstamps, and of course, the weather: “‚ÄúDespite a holiday season that delivered positive comps, two factors contributed to lower comp sales performance for the 14-week period for Walmart U.S. First, the sales impact from the reduction in SNAP (the U.S. government Supplemental Nutrition Assistance Program) benefits that went into effect Nov. 1 is greater than we expected. And, second, eight named winter storms resulted in store closures that impacted traffic throughout the quarter.”

The Rest…HERE

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