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

Saturday, February 1, 2014
By Paul Martin

by Tyler Durden

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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