Wal-Mart Says February Sales "Total Disaster", Worst Monthly Start Since 2006; Stock Drops

Tyler Durden's picture




 

Wal-Mart shares are plunging as the firm reports a 'total disaster' in its February sales. Bloomberg obtained internal emails that note:

"In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, Wal-Mart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. “The worst start to a month I have seen in my ~7 years with the company.... That points to our competitive landscape, which means everyone is suffering and probably worse than we are

It gets better:

“We have to fight against the tougher economic environment to earn a bigger share of a smaller consumer spending pie"

Obviously in WMT speak, "tougher" is what Obama would call "much better and rapidly improving."

Things must not be serious over in Bentonville for this much truth to suddenly hit the tape.

One senior executive summed it up perfectly - “Well, we just had one of those weeks here at Walmart U.S. Where are all the customers? And where’s their money?” The company notes the end of the payroll tax cut by Obama and asks "We need to stop the stupid."

How odd: why is WMT focused on such trivial anachronisms as "money": can't it just boost its multiple by promising 2022 sales will be stupendously  marvelously humongous. It works for every other hollowed shell of a firm, gutted by Bernanke's central planning.

Perhaps, just perhaps, some reality will finally come back to the market as a result of this disclosure.

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Fri, 02/15/2013 - 15:58 | 3247453 LongSoupLine
LongSoupLine's picture

And there's your REAL fucking recovery.

Fuck you Obama, Bernanke and congress. You fucking shit filled walking tbtf bank vomit eating fucking pricks have fucked this nation into a festering shit bucket.

Fuck off a die you dicks.

Fri, 02/15/2013 - 16:16 | 3247536 nantucket
nantucket's picture

wow.  I thought i'd heard rants before, but that was a winner.

Fri, 02/15/2013 - 18:12 | 3247935 FEDbuster
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LongSoupLines is ZH's walstreetpro2.  His lack of love for the banking elite is well documented.  When their day of reckoning comes, I would like LongSoupLines to deliver their punishments.   

Fri, 02/15/2013 - 19:58 | 3248199 Room 101
Room 101's picture

LSL: We'd missed you on these threads.  Please don't hold back.  Tell us what you feel.  

Sat, 02/16/2013 - 02:14 | 3248920 Parrotile
Parrotile's picture

"Come the Revolution" LSL is going to be the one with the BIG gun!

China may well benefit (seeing as they already have quite a long wall), or for the elite, maybe Hadrian's Wall (UK) would be more appropriate (Bank of England and whatever!)

Fri, 02/15/2013 - 22:23 | 3248551 Angus McHugepenis
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I fucking love you, ya soupy miserable fuck! I printed a copy of your avatar to carry in my wallet just in case I ever get arrested. Your likeness will comfort me in jail without all the dropping of the soap issues.

Fuck it, I've had enough to drink now. I need a 14 hour nap.

Cheers LSL!

Fri, 02/15/2013 - 16:22 | 3247568 FL_Conservative
FL_Conservative's picture

"The company notes the end of the payroll tax cut by Obama and asks "We need to stop the stupid.""

 

Unfortunately, he's with us for another 4 years.,

Fri, 02/15/2013 - 17:09 | 3247748 rbg81
rbg81's picture

Methinks this is really all about creating panic in the equity markets, so investors go running back to bonds.  Specifically, the Powers-that-Be need the yield on the 10Yr UST to come down.  Way down.

Fri, 02/15/2013 - 22:23 | 3248549 Cardinal Fang
Cardinal Fang's picture

It's about creating the clamor for more stimulus spending. Walmart is in on it. Do you really think you are told anything that you were not meant to hear by the MSM and TPTB? Leaked email my ass.

Fri, 02/15/2013 - 15:14 | 3247245 kato
kato's picture

they just took delivery of a new G6 though.

Fri, 02/15/2013 - 15:33 | 3247350 redpill
redpill's picture

Poppin bottles in the ice, like a blizzard

Fri, 02/15/2013 - 15:33 | 3247353 DosZap
DosZap's picture

Well the SNAP card users are still buying!

Fri, 02/15/2013 - 15:37 | 3247373 insanelysane
insanelysane's picture

Higher fuel and home heating prices are eating up the SNAP cards too.

Fri, 02/15/2013 - 16:05 | 3247486 Cathartes Aura
Cathartes Aura's picture

yeah, SNAP cards can only be used for food, nothing else, just food.

know yer meme when trollin'

Fri, 02/15/2013 - 16:11 | 3247515 DaveyJones
DaveyJones's picture

that's what street barter is for

Fri, 02/15/2013 - 16:49 | 3247682 Cathartes Aura
Cathartes Aura's picture

yes, there ARE more *cough* creative uses for the JPMplasticSwipes - but this notion that people are using SNAP cards for everything but food is just lazy repeating. . .

which is very popular here, so I'm not even sure why I bothered posting, lol.

Fri, 02/15/2013 - 17:32 | 3247811 tip e. canoe
tip e. canoe's picture

face it aura, everybody's scammin & skimmin...it's the Amer-i-con Way.

Fri, 02/15/2013 - 17:58 | 3247894 Cathartes Aura
Cathartes Aura's picture

indeed, and I acknowledged this in a post downthread - again, all I was pointing out is the difference between EBT and SNAP benefits.  pointing this out to the WallyMart shoppers, the TBTF bank account holders.  here.

doesn't matter tho' - none of it.  matters.

Fri, 02/15/2013 - 19:05 | 3248062 tip e. canoe
Fri, 02/15/2013 - 20:25 | 3248261 Cathartes Aura
Cathartes Aura's picture

don't mind me tip e. - been listening to the new mbv, loud, and realising that it might indeed be time to put my attention elsewheres.

breaking up is always hard tho' - *smiles*

Fri, 02/15/2013 - 16:13 | 3247524 insanelysane
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In the Peoples Republic of Massachusetts they come with a cash option.

http://www.mass.gov/eohhs/consumer/basic-needs/food/snap/using-the-elect...

 

Fri, 02/15/2013 - 16:49 | 3247689 Oleander
Oleander's picture

The .gov also found that Mass. was given $25 million tooo much for SNAP. We of course do not mind paying that back, its for the children. 

Fri, 02/15/2013 - 17:00 | 3247718 DaveyJones
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and TARP is for the people who behave like children

Fri, 02/15/2013 - 17:12 | 3247749 Cathartes Aura
Cathartes Aura's picture

I was curious, so I looked at your link:

Tell the clerk how much money to enter or enter the purchase amount yourself. Remember, you can only buy eligible food items with your food benefits.

your link was to the EBT card users, which can indeed be used for getting fiat from a machine.  the SNAP card is limited to foodstuffs only, unless you're using DaveyJones creative thinking.

here's the link for your local SNAP rules:

http://www.mass.gov/eohhs/consumer/basic-needs/food/snap/snap-benefits-o...

if yer gonna hate, at least do it truthfully.

Fri, 02/15/2013 - 16:23 | 3247578 world_debt_slave
world_debt_slave's picture

yep, had a grocery customer come through today my lane and used her SNAP card and had to pay another $3 for non-food items with a $100 bill and talking to her friend about going skiing this weekend with her friend.

I see all ages, males, females, all ethnicities with exception, possibly of asians, using the SNAP.

Fri, 02/15/2013 - 16:24 | 3247591 aerojet
aerojet's picture

And you just keep on believin' that!  People who use those cards have nothing better to do all day than figure out ways around the rules.  They basically have a system of trade where the cards get used for the intended purpose and the value is transferred in some discounted form to other goods via cash.

Fri, 02/15/2013 - 16:56 | 3247698 Ness.
Ness.'s picture

You forgot to sarc/ your post.  Shit man, in Chicago you can swap out EBT/SNAP for cash at the CBOT/CME.  

 

Lullaby and goodnight, with roses bedight
With lilies o'er spread is baby's wee bed
Lay thee down now and rest, may thy slumber be blessed
Lay thee down now and rest, may thy slumber be blessed

 

Shhhh - sleep well my child. *pats head*

 


Fri, 02/15/2013 - 17:44 | 3247778 Cathartes Aura
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to all of you who took time out of your valuable posting day to "correct"  and/or downvote me - all I was pointing out was that there is a difference between a JPMorgan SNAP food-stamps substitute card, and an EBTbankcard issued by TBTFprofiteers, which you can indeed get "cash back" on.

the qualifications are different - some folks can get SNAP and no EBT (which is used for payments such as unemployment benefits), some get both, whatever - and yes, both are subject to creative usage, just like paying taxes, calling in sick for teh jawb, cheating on yer partner, yadda yadda.

it's amrka, nothing is to be taken at face value, well understood.

Fri, 02/15/2013 - 15:37 | 3247374 DosZap
DosZap's picture

ALSO,

Your GIG is up dudes!!!

Your produce is higher than most supermarket chains,(and crappier quality) and overall your food and meats are also.

Fri, 02/15/2013 - 15:49 | 3247428 XitSam
XitSam's picture

also less selection, just the stuff that they can force a national brand to knuckle under and sell at deep discount.

Fri, 02/15/2013 - 20:03 | 3248208 Room 101
Room 101's picture

They're always out of stock, have a 20 minute wait in their lines, and have legions of idiots working for them.  At the end of the day, it costs about as much to shop there as at most grocery stores.  It's not worth the slim savings to deal with them.   

Fri, 02/15/2013 - 22:26 | 3248556 Cardinal Fang
Cardinal Fang's picture

Chinese crap for us, good ol' American Iron for them.

Fri, 02/15/2013 - 15:15 | 3247246 Neethgie
Neethgie's picture

This is like boxing where Walmart is on the ropes and Obama is about to finish Walmart with a min wage hike knockout

Fri, 02/15/2013 - 15:35 | 3247362 ParkAveFlasher
ParkAveFlasher's picture

Don't worry, they can always go back to their suppliers and negotiate more price decreases. </sarc>

Fri, 02/15/2013 - 15:48 | 3247422 DosZap
DosZap's picture

Min wage $9.00,YOU will never see that passed.(at least not until the econ does an about face,which WILL never happen on Grouco's watch).

Obama knows if it does, it kills even more jobs, and knocks more folks of the 40 hr week, and /or they lose any bennies they have.

Fri, 02/15/2013 - 15:50 | 3247436 XitSam
XitSam's picture

if $9.00 will help people, why not $90/hr. or $900/hr.  Help everyone!   /s

Fri, 02/15/2013 - 23:32 | 3248678 TBT or not TBT
TBT or not TBT's picture

Dittohead?

Fri, 02/15/2013 - 16:21 | 3247554 sessinpo
sessinpo's picture

That would be a great comment except for that various studies indicate that average Walmart employees earn over the minimum wage hike.

 

In other words, a minimum wage hike, would hurt any worker (Walmart or not) that already earns above the hike level. Why, because those workers would essentially get a tax hike in the form of higher prices of goods.

Let's say the minimum wage is raised to $10/hour. And  let's say you currently earn $11/hr. How does that benefit you? You have to ask/demand your employer raise your pay due to your experience, seniority, etc. But the fact is, most of these jobs are monkey jobs and the employer is not likely to budge.

Since you already earn above the minimum wage, you won't get a raise. But since businesses have to pay a higher starting wage, it gives them a reason to raise prices on goods. So in the end, you don't get a raise, but you have to pay more for basic goods. Workers get hurt.

If anything, maybe the fast food restaurant worker of clothing retailer at the mall might get see the raise. The rest of us will get the tax.

Fri, 02/15/2013 - 15:14 | 3247247 ultimate warrior
ultimate warrior's picture

Just hand out MOAR EBT cards. Problem solved.

/sarc/

Fri, 02/15/2013 - 15:17 | 3247253 TruthInSunshine
TruthInSunshine's picture

Bernankomics-- it's like the worst nightmare ever, except that you're awake.

With an assist from Timmmmay! and ObaMao!

Fri, 02/15/2013 - 16:13 | 3247525 DaveyJones
DaveyJones's picture

weird, we're awake, but the government isn't

Fri, 02/15/2013 - 15:15 | 3247257 Lost Wages
Lost Wages's picture

Sam Walton is flopping in his grave.

Fri, 02/15/2013 - 15:45 | 3247285 bonzo112358
bonzo112358's picture

I agree.  If he saw what his store and name have turned into he would flip to say the least.  If you haven't seen any of these please sit back and enjoy 'people of walmart'.  http://www.youtube.com/watch?v=rNzwgrtdBo8  If you really ever want to how bad it is find a 24 hour walmart and stop in at 2 am.

Fri, 02/15/2013 - 16:09 | 3247508 dark pools of soros
dark pools of soros's picture

if you have an EBT card what is stopping you from living inside the 24 hour ones?

 

Fri, 02/15/2013 - 16:23 | 3247579 sessinpo
sessinpo's picture

They don't provide mattresses yet

Fri, 02/15/2013 - 22:06 | 3248503 Angus McHugepenis
Angus McHugepenis's picture

Head over to the camping section. I'm sure you can find what you need to live there 24/7.

Fri, 02/15/2013 - 16:26 | 3247599 aerojet
aerojet's picture

I would only care that he is pissed off if it is because WM quit selling handguns.  Which I think took place while Sam was still alive. 

Fri, 02/15/2013 - 16:46 | 3247671 Freddie
Freddie's picture

Money corrupts.  Wal Mart will do whatever the govt wants them to do because of SNAP cards, illegals and importing Chinese crap.  I am not a Wal Mart hater but all these big companies are the same.

The WSJ (crap paper now - they all are crap) had an online story about big WMT SuperMarts.

Jamie Dimon loads in the SNAP card money at Midnight - I think twice a month.  At 12:01 am - the 40 registers start beeping at a big WMT with SNAP/WIC cards.  Sick.   Same with the crap fast food places like MCD and Taco Bell et all with mystery meat and food.  It is just slime food for Obummer voters.

Fri, 02/15/2013 - 15:16 | 3247260 cornflakesdisease
cornflakesdisease's picture

White House Unofficial Rebuttle:

 

https://www.youtube.com/watch?v=5NNOrp_83RU

Fri, 02/15/2013 - 15:19 | 3247272 scatterbrains
scatterbrains's picture

did folks on extended unemployment bennies take a cliff dive ? Thank goodness for $5 gasoline just around the corner or this could get realy nasty.

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