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Wal-Mart Cuts Guidance Again, Blames Obamacare

Tyler Durden's picture




 

Remember this chart from November, when everyone was predicting a surge in global GDP and "escape velocity" growth for the US economy on the latest burst of irrational hopium that central-planning works (it doesn't)?

Well, yeah....

Also, it just got worse.  Moments ago WalMart reported in-line EPS driven by flat comp store sales. Curiously, even Wal-Mart is marginally increasing prices to offset a decline in store traffic:

During the 13-week period, Walmart U.S. comp traffic decreased 1.1 percent, while average ticket increased 1.1 percent.

The CEO's take:

As it relates to our challenges in the quarter, we wanted to see stronger comps in Walmart U.S. and Sam’s Club, but both reported flat comp sales. Stronger sales in the U.S. businesses would’ve also helped our profit performance.

And when the best priced retailer in the world is forced to start hiking prices to offset declining volumes, what does that mean for cost-push (not its benign wage-driven, demand-pull cousin) inflation?

But the real message, and what suggests global GDP will continue to deteriorate, was that Wal-Mart just did what it has done so many times in the past several years. It cut guidance.

Walmart updated full year EPS guidance to a range of $4.90 to $5.15, from a previous range of $5.10 to $5.45. This range includes third quarter EPS guidance of $1.10 to $1.20. The new full year guidance reflects incremental investments in e-commerce and higher U.S. health-care costs than previously anticipated. This guidance also assumes the effective tax rate will be around 34 percent for the third quarter. The annual effective tax rate is projected to be between 32 and 34 percent. The actual rate will depend on a number of factors, including our performance, discrete items and pending U.S. Congressional actions regarding the extension of certain tax legislation.

Obamacare's fault.

Oh, and those predicting an imminent CapEx renaissance, please don't look at the 16% Y/Y plunge in WMT CapEx in H1. The good news, for shareholders, free cash flow rose to $6.8 billion from $5.2 billion, thanks to a continue decline in investing in the future.

 

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Thu, 08/14/2014 - 07:36 | 5091371 Dubaibanker
Dubaibanker's picture

First was weather....now Obamacare...what will be next...Russia?

Thu, 08/14/2014 - 07:40 | 5091382 AlaricBalth
AlaricBalth's picture

Locusts

Thu, 08/14/2014 - 07:52 | 5091418 ss123
ss123's picture

Ebola

Thu, 08/14/2014 - 08:08 | 5091467 Headbanger
Headbanger's picture

ISIS..

Oh my!

Thu, 08/14/2014 - 08:51 | 5091661 de3de8
de3de8's picture

Polar vortex

Thu, 08/14/2014 - 09:31 | 5091841 Bad Attitude
Bad Attitude's picture

Next? Inflation - wholesale price increases. Maybe more EBT system glitches.

Thu, 08/14/2014 - 11:34 | 5092436 Chuck Walla
Chuck Walla's picture

Vote Hillary, for the common good!

FORWARD SOVIET!

Thu, 08/14/2014 - 07:52 | 5091419 krispkritter
krispkritter's picture

You mean Walmart customers?

Thu, 08/14/2014 - 08:01 | 5091421 GetZeeGold
GetZeeGold's picture

 

 

Wal-Mart Cuts Guidance Again

 

29.5 hr/wk jobs bitchez!

 

Gonna have to move the heavens to change that fact.

Thu, 08/14/2014 - 09:40 | 5091883 ElvisDog
ElvisDog's picture

Don't be silly. Why would they "plan" legislative disaster. Think Occam's Razor. Obamacare was a successful attempt by health insurance companies to pass a law to force people to buy their products thereby increasing and guarenteeing health insurance company profits in the future. Their lobbyists wrote the bill, and that's what the purpose was.

Thu, 08/14/2014 - 12:07 | 5092628 crazzziecanuck
crazzziecanuck's picture

Healthcare, just like education, is always destined to have ever-increasing costs, ObamaCare-like programs or not.  ObamaCare was always positioned to be whatever group wanted it to be.  For "lefties", it was about humanizing a cruel and corrupt system by making the system "work" for everyone.  For the "righties", it was about prventing the government to have any truly substantive affect on corporate profiteering (ObamaCare actually entrenches more profiteering).

Thu, 08/14/2014 - 09:48 | 5091925 Freddie
Freddie's picture

Pretty much F Wal Mart!   The place brings in Chinese crap that is junk.  Their customers anymore are Obama voters with EBT cards and illegal aliens.   It should be called Third World Mart.  Shithole store.

The billionaire elites F'ed Amerika and now they cannot understan how they killed the golden goose.  F them.

Thu, 08/14/2014 - 07:41 | 5091384 BLOTTO
BLOTTO's picture

'And when the best priced retailer in the world...'

.

The masses are leaving 'the best priced retailer' and heading to the Dollar Store and Thrift store.

Thu, 08/14/2014 - 08:00 | 5091436 AlaricBalth
AlaricBalth's picture

Was dropping off some stuff at a Goodwill store last Saturday and the line for people making back to school purchases was quite long at the register.
Antithesis to that anecdote, my sister is the store manager at Sachs Fifth Avenue in Bal Harbour and her store is experiencing record sales volume.

The polarization of the US economy has reached historic proportions. The unintended consequences are manifesting themselves in seething social unrest as experienced in Ferguson.

http://www.zerohedge.com/news/2014-06-05/rich-get-richest-household-net-...

Thu, 08/14/2014 - 09:49 | 5091931 Freddie
Freddie's picture

Bal Harbour = bagel land and Russians. 

Thu, 08/14/2014 - 11:11 | 5092283 DullKnife
DullKnife's picture

Unrest in Fegurstan is nothing unusual.

It is the people who make the slum.

If it was a mob of mixed age White people protesting, then there would be a serious message there.

But Blacks burning, looting and rioting?

S.O.P. for such civilized and high class pillars of society.

 

Thu, 08/14/2014 - 09:52 | 5091941 Freddie
Freddie's picture

Best priced?  LOL!  Wal Mart went to Germany and Aldi kicked their ass so hard that Wal Mart gave up on Germany and most of Europe.    Between Aldi and Lidl - Wal Mart never had a chance in Germany and Europe.

Aldi is also Trader Joes.

Thu, 08/14/2014 - 07:46 | 5091401 Shizzmoney
Shizzmoney's picture

I think they actually have a wheel at the WMT offices a la The Price is Right where they spin it and whatever "scenario" it lands on, that what they use to blame shitty performance on.

Thu, 08/14/2014 - 07:51 | 5091413 Bindar Dundat
Bindar Dundat's picture

Until they spin "The Public" and then they release the dogs of war on us to squeeze the last little but of borrowing power out of us to keep the system alive. When that no longer works than we are no longer useful and the culling will begin.  So as quoted by the head of  the Reserve l "shop or die mother fuckers".

Thu, 08/14/2014 - 07:54 | 5091428 williambanzai7
williambanzai7's picture

Poorly kept greens

Thu, 08/14/2014 - 08:40 | 5091604 Raging Debate
Raging Debate's picture

Dubaibanker - Higher healthcare costs and skyrocketing premiums definately would impact retail sales. That and much higher food and energy costs this year.

Thu, 08/14/2014 - 08:52 | 5091664 drendebe10
drendebe10's picture

,"if u like ur health insurance, u can keep ur health insurance."

Thu, 08/14/2014 - 09:32 | 5091849 dicksburnt
dicksburnt's picture

nothing MOAR EBT can't fix.  Print, give, spend.

Thu, 08/14/2014 - 16:35 | 5094101 redc1c4
redc1c4's picture

you forget the obvious source of the problem: George W. Bush

;-)

Thu, 08/14/2014 - 07:36 | 5091373 firstdivision
firstdivision's picture

Equities are up, up, up and away.  This shit is like Superman.  The only thing that can bring it down is a GAAP earnings report, but we killed GAAP in favor of fake performance numbers.

Thu, 08/14/2014 - 07:58 | 5091433 GetZeeGold
GetZeeGold's picture

 

 

Equities are up, up, up and away. 

 

Print that shit Rick Masters....

https://www.youtube.com/watch?v=6Q6VsR_4PuQ

Thu, 08/14/2014 - 07:37 | 5091375 KidHorn
KidHorn's picture

Wal-Mart can't continue expanding. They're everywhere. CapEx can only be spent on modernization of existing stores.

Thu, 08/14/2014 - 08:05 | 5091453 shovelhead
shovelhead's picture

Au contraire,

They're building a Supermarket Pharmacy in my town of 3000.

They're moving into small rural places that are underserved or with one supermarket with no competition.

20 years ago they wanted to come in with a Supercenter because of the interstate hwy but the local merchants sent em packing.

Thu, 08/14/2014 - 09:56 | 5091963 Freddie
Freddie's picture

Their newer stores are either Supermarkets or supermarkets and much smaller merchandise stores.  Why? EBT cards.  Wal Mart is the food lines of Amerika.

The only good thing is Aldi is expanding along with Aldi's Trader Joes.  Aldi and Lidl murdered Wal Mart in Germany and Europe.  Aldi will slowly put a real hurtin on WMT in the USSA.    Aldi has less GMO food than WMT.

Thu, 08/14/2014 - 09:36 | 5091876 toady
toady's picture

I remember reading that CA kept them out. That's a Hella big market they could expand into...

Thu, 08/14/2014 - 07:39 | 5091379 Last of the Mid...
Last of the Middle Class's picture

1.1% doesn't even cover inflation. Wally world blames Obamacare, Obamacare blames the polar vortex, and Hillary says What difference does it make. However, less Wal marts is definately a good thing.

Thu, 08/14/2014 - 09:15 | 5091765 MachoMan
MachoMan's picture

However, less Wal marts is definately a good thing.

Yeah, you can go from having a few low wage jobs in your town to none when people purchase items online instead...

Thu, 08/14/2014 - 07:39 | 5091380 Racer
Racer's picture

31s

WMT boosting prices to offset declining traffic means cost-push inflation is around the corner"

 

Let me see, some people can't afford to go to Walmart.

Walmart raises prices... even more people can't afford to go to Walmart.

 

Yes I can see the logic behind raising prices  /sarc

Thu, 08/14/2014 - 08:35 | 5091584 Bindar Dundat
Bindar Dundat's picture

Can we all say " STAGFLATION" ?

Thu, 08/14/2014 - 09:21 | 5091797 MachoMan
MachoMan's picture

No, it's cost push inflation.  The reason so many folks want to call it something different is because true cost push inflation (what we have) only comes about every so often and is less frequent than demand pull (at the very least, certainly not allowed to be discussed on the MSM the same as demand pull).  Everyone wants to discover a new species, but this one has been observed for millennia.

Once retailers push producers to the brink, then things get interesting.  Right now, most of the battle is between consumers and retailers.  If walmart, who has the most leverage of any retailer, cannot push back, then we're getting close.

Thu, 08/14/2014 - 11:18 | 5092323 DullKnife
DullKnife's picture

Inflation hurts everyone (well, Mainstreet...not WallStreet).

Local water and ice cream shop...Mom & Pop operation.

Sell premium ice cream as a niche neart large supermarkets selling regular ice cream.

Premium ice cream supplier raised prices to this small retailer a big jump.

Raised a double scoop in a cup from about $3.50 to $4.50.

I used to take the kids there a couple times a week as a special treat.

But now at $9.00 (and tax)?   No more.

Now it is the dollar menu cone at BurgerKing (was $1.00 but now raised to $1.29 plus tax) or nothing.

 

 

Thu, 08/14/2014 - 07:42 | 5091386 Dubaibanker
Dubaibanker's picture

4th casino in 2014 in Atlantic City to close by Sep 10.

3,000 more jobs gone. How can Wal Mart succeed when it's customers have no jobs? Of course, sales have to keep going down.

In latest setback to Atlantic City, lavish Revel casino to close

Thu, 08/14/2014 - 07:54 | 5091425 AdvancingTime
AdvancingTime's picture

This huge casino closing is no small comment about the "real economy" and what is still happening across America. Below is an article about small business failures and how they should receive a lot more attention then they do, we will see a lot of these in the near future as people have started down this path when unable to find a job.

Small business is hard, going into business is risky, and many people are not up to the task. As a property owner that leases space to many start-ups I have a keen interest and knowledge of the microeconomics that occur. Just as important is the effect, long and short term on the economy. With most business start-ups having a very short lifespan of just months or around a year, the short term burst of spending is quickly followed by the longer term negatives. More on the toll taken on all of us when a small business fails in the article below.

http://brucewilds.blogspot.com/2013/03/small-business-failures.html

Thu, 08/14/2014 - 08:05 | 5091451 Squid-puppets a...
Squid-puppets a-go-go's picture

still, its the wrong casinos closing. Should be the ones on wall st

Thu, 08/14/2014 - 10:39 | 5092138 Pure Evil
Pure Evil's picture

Actually with each state passing laws allowing casino gambling its getting harder and harder for the major hubs like Las Vegas and Atlantic City to pull in customers.

Pennsylvania passed a law allowing gambling at its race tracks and other venues, so there's no need to drive to Atlantic City anymore. Even though Jersey built a turnpike that runs from Philly down to Atlantic City explicitly for that purpose. And Atlantic City still has to compete with the Indian Casinos in Connecticut.

All in all, people are still gambling, they're just not taking junkets to Las Vegas or Atlantic City, they're spending their money closer to home.

Makes sense anyway, all that money spent on travel and hotel stays can be gambled away instead at the local casino. And, the money you would have gambled anyway can now be spent on booze and drugs.

Thu, 08/14/2014 - 11:28 | 5092383 DullKnife
DullKnife's picture

Mutiple small businesses have failed locally.

Part of the reason is high rents for commercial space.

Here in a small, low traffic town, an est. 15 x50 foot store space in local micromall is about $2,000 per month+utilities+licenses+taxes+wages.   Which is hard for small startup businesses to handle.

A friend has a restaurant in a larger city, moderate traffic area, pays a bit over $5,000 per month rent.

Hard to cough that up monthly.

Local military base shut down.  Hundreds of houses and many good buildings with commercial potential just sitting idle.  Govt could have rented/leased/sold the houses to area working class families and same to small businesses for low cost, helping local people and local economy.

What did the Govt do?

Nothing.

Let all sit idle, let be vandalized.

Gave prime lands and buildings in sweetheart deals to connected real estate developers and the like who tore down the affordable housing and built high-priced housing.  Local Govt happy as property tax on new expensive buildings are much higher than old old houses/buildings.

DK

Thu, 08/14/2014 - 09:23 | 5091809 MachoMan
MachoMan's picture

How can Wal Mart succeed when it's customers have no jobs? Of course, sales have to keep going down.

Walmart accepts SNAP...  In other words, walmart succeeds the same way everyone else is presently succeeding, by being closeser to the spigot.

Thu, 08/14/2014 - 09:29 | 5091838 Eyeroller
Eyeroller's picture

Atlantic City and Las Vegas now obsolete.

We have the stock market now.

Thu, 08/14/2014 - 10:05 | 5092000 FrankDrakman
FrankDrakman's picture

I'll say Vegas is obsolete. You can lose at a casino. BTFATH, and you'll never be sorry!

Thu, 08/14/2014 - 10:23 | 5092077 Freddie
Freddie's picture

NJ voted for this TWICE.  Nice job f**ktards.  Stay in NJ and stay out of the south and the non-lib parts of Obama's Amerika.

Thu, 08/14/2014 - 07:42 | 5091388 Squid Viscous
Squid Viscous's picture

futures still green? check... good thing "investors are focusing on earnings now that geopolitical tensions are easing" I read that on Yahoo Finance...

Thu, 08/14/2014 - 07:46 | 5091403 Shizzmoney
Shizzmoney's picture

This just in: investors are shitty are reading comprehension

Thu, 08/14/2014 - 07:44 | 5091395 AdvancingTime
AdvancingTime's picture

Much of the economic landscape is beginning to look like something out of  "Alice And The Looking Glass" A bizarre  and unrecognizable land, a land that is distorted and papered over by ream after ream of paper. This paper has been rolling off the printing presses of central banks all across the world in an attempt to mask reality.

Peter Schiff says, printing money is to the economy what taking drugs is to a drug addict. In the short term it makes the economy feel good, but in the long run it is much worse off. What was once the "long run" or "distant future" may be getting much closer. More on this in the article below.

http://brucewilds.blogspot.com/2013/01/what-happens-after-momentum-ends_...

 

Thu, 08/14/2014 - 07:45 | 5091397 ArkansasAngie
ArkansasAngie's picture

I'm so tired of this balcony I could spit.

screw'em

The void is increasing.

Thu, 08/14/2014 - 08:10 | 5091469 shovelhead
shovelhead's picture

I hate when people spit from the balcony...except when they miss me.

Thu, 08/14/2014 - 07:46 | 5091400 Last of the Mid...
Last of the Middle Class's picture

I remember when Wal Mart used to proudly display the names of the US companies it bought from in 12 inch letters in the front of the store. Eliminate the middle man has finally led to humongus stores filled with worthless chinese crap. Wonder where they went wrong? Duh.

Thu, 08/14/2014 - 07:51 | 5091409 rsnoble
rsnoble's picture

I went to a Walmart recently in a racially 'diverse' area--trust me out of necessity, about 10pm.  It was nothing short of complete DISASTER.

There were about 10 lanes open and each one had about 6 in line.  There was a white guy in front yelling and screaming at the mgr about not opening more lines, a few cops swarming by,  the young punks next to me had 2 carts full of nothing but chips,hot dogs, and top ramen, and a couple security vehicles flashing lights in the parking lot.

It was literally a zoo.  Never again.  When we went thru the clothing area the wife said why are there tires hanging from the ceiling?  I said so the mexicans don't steal them.  Of course that immediately drew a couple nasty looks but I don't fucking care.

Thu, 08/14/2014 - 08:06 | 5091457 Squid Viscous
Squid Viscous's picture

The walmart by me isn't that bad actually, except for all the fatties and lazy fucks that leave their shopping carts all over the parking lot

Thu, 08/14/2014 - 10:41 | 5092147 Freddie
Freddie's picture

I would be 65% of the Wal Marts in Obama's Amerika are like that.  Third World EBT stores.

Thu, 08/14/2014 - 11:39 | 5092473 DullKnife
DullKnife's picture

re. shop lifting/theft:

There are two Orchard Supply Hardware stores (large hardware store) in our area.

One in a mostly White area.

One in an almost completely Mexican area.

Though I happen to like Mexicans in general, I have learned to shop at the OSHardware in the White area, and to avoid the OSH in the Mexican area.

Why?

Because when I buy a box of something (i.e. door lock kit, etc) in the Mexican area OSH, too many times there will be missing stuff.   Seems when some "folks" need a part, instead of buying the whole unit/box, they just take out and pocket the parts they need and put the now incomplete kit back on the shelf.

Never has happened at the White area OSH.

Nentioned it to the Mexican area OSH manager.  he said, yes they have a problem with theft.

DK

Thu, 08/14/2014 - 07:51 | 5091414 wmbz
wmbz's picture

So this news should be good for what? At least a 200 point gain.. right?

Party on!

Thu, 08/14/2014 - 07:54 | 5091427 rsnoble
rsnoble's picture

Yes because it means everyone is spending money on higher quality, more expensive merchandise.

Thu, 08/14/2014 - 08:15 | 5091482 youngman
youngman's picture

Just think in five more years Walmart will be a high end store....wow

Thu, 08/14/2014 - 09:27 | 5091822 GetZeeGold
GetZeeGold's picture

 

 

Breakfast at Walmart will be an Oscar winning movie.

Thu, 08/14/2014 - 09:58 | 5091970 FrankDrakman
FrankDrakman's picture

"Breakfast at Walmart will be an Oscar winning movie."

No, it will not. Audrey Hepburn is dead.

Thu, 08/14/2014 - 07:53 | 5091415 rsnoble
rsnoble's picture

FYI I have 8 dogs and around 10 cats and order all the pet supplies online with free shipping including cat litter, lol.  FedX hates me. Literally.  I live in a remote area, considering, and am not on their route.

I told them that's their problem not mine.  Anymore smashed boxes etc i'll be having your ass hung.

Thu, 08/14/2014 - 07:56 | 5091432 krispkritter
krispkritter's picture

They just need to start renting out floor space: http://www.dailymail.co.uk/news/article-2723858/How-one-14-year-old-boy-...

Thu, 08/14/2014 - 08:04 | 5091447 NoWayJose
NoWayJose's picture

And I still can never find a box of .22LR in stock at my local Walmart, and they limit sales on their other ammo too. Maybe they need to re-think their logistics, their product mix and their sales policies.

Thu, 08/14/2014 - 08:05 | 5091450 Catullus
Catullus's picture

Maybe they dont need to expand anymore?

Thu, 08/14/2014 - 08:07 | 5091463 T-NUTZ
T-NUTZ's picture

Dollar Tree is the new WallMart

Thu, 08/14/2014 - 08:14 | 5091472 GetZeeGold
GetZeeGold's picture

 

 

That's true.....I stood in line for 1/2 hour to buy a bag of chips for a dollar.

 

I thought the line was going to speed up....but it didn't.

 

My local Dollar Tree is always full of BMWs and Mercedes in the parking lot.

Thu, 08/14/2014 - 08:13 | 5091479 roadhazard
roadhazard's picture

I know the manager of a Walmart and Obama Care isn't the problem, No customers is the problem just like McDonalds and every other business in the US.

And who was "Everyone" predicting global growth. Isn't that those people no one believes.

Thu, 08/14/2014 - 08:33 | 5091573 viator
viator's picture

My local mall is almost like a ghost mall on weekdays. Even weekends are slow. AAA rated stores are slowly closing one after another to be replaced by an odd assortment of tenants.

Thu, 08/14/2014 - 08:14 | 5091481 yogibear
yogibear's picture

A race to the bottom for the 99%. More QE and printing.  Doubling of the deficits from $17.7 trillion to $34 trillion.

Thu, 08/14/2014 - 08:19 | 5091500 disabledvet
disabledvet's picture

Yeah, well it's not like Amazon has a problem with cap ex. Wal Mart looks to be going the way of K-mart here. "Make it up on price increases"? They should be singing the praises of good stamps then because those costs get passed right on to the Federal Government.

Americans will start raising their own chickens, "guerrilla gardening" in the Cities for the local restaurants. Wheat, corn, oil, "powerade"...just swimming in everything right now.

Thu, 08/14/2014 - 11:50 | 5092533 Jethro
Jethro's picture

I saw the writing on the wall a few years ago.  I've downsized as much as I can downsize, and moved out to the country on an acreage to do precisely what you mentioned.  If I can reduce my grocery bill with homegrown products, which are far more healthy anyways, I would be stupid not to.  Only one of my rural neighbors has a garden, but no livestock.  The rest may as well be living in a suburb.  I'm preparing for big increases in inflation in the next few years.  The plan is to sell or barter any excess produce/meat/honey I make. 

Once business tax revenues really tank, I expect the Federal government to impose higher taxes on the population.  Seems to be more of a "when" then an "if" at this point.

Thu, 08/14/2014 - 08:25 | 5091507 Chuck Knoblauch
Chuck Knoblauch's picture

Just interviewed for a high profile position at HQ.

They think their main competition is Amazon.

They think future growth is in China.

They are a mess of a Company.

May God help the residents of Bentonville & Rogers.

Don't get me wrong - they have plenty of cash, but no vision for the future.

They are at the peak of their life cycle.

Thu, 08/14/2014 - 08:30 | 5091560 viator
viator's picture

I gues you didn't get the job.

Thu, 08/14/2014 - 08:30 | 5091564 viator
viator's picture

I guess you didn't get the job.

Thu, 08/14/2014 - 08:46 | 5091635 Midas
Midas's picture

Would you hire someone that can't throw to first base?

Thu, 08/14/2014 - 09:39 | 5091886 MachoMan
MachoMan's picture

I'm pretty sure most of the folks in bentonville will be able to get by just fine on their cash reserves...  however, as walmart goes, so will northwest arkansas.  That area exploded when walmart demanded all its major vendors to have a local presence so walmart could deal with them locally...  except that many people didn't see this as a one-off event and got out their ruler....  eventually leading to a housing crash, among other things, due to over building.

Thu, 08/14/2014 - 08:49 | 5091653 Ban KKiller
Ban KKiller's picture

Walmart? Too snobby to shop there. I am up scale..j c penny's.

Thu, 08/14/2014 - 08:54 | 5091672 Disenchanted
Disenchanted's picture

Wal-Mart has more problems than just the economy. Young college-educated idiots in there now fixing shit that ain't broke and pencil whipping numbers to make themselves a name in the hierarchy. Many longtimers that are left throwing up their hands.

 

So again, it's more than just the economy. Btw a 'little bird' tole me all this...

Thu, 08/14/2014 - 08:54 | 5091675 dobermangang
dobermangang's picture

Just think:  Obamacare hasn't kicked in for the majority of people yet.  Next year is when we see maximum Obamacare pain on the economy.

Thu, 08/14/2014 - 09:08 | 5091728 pupdog1
pupdog1's picture

WalMart used to be a marvel of logistics--every item was not only stocked, but fully stocked.

And, there used to be plenty of high (or at least adeqate) quality carefully selected products.

That was 10-20 years ago.

No place has been managed into the ground more than WalMart.

I'm sure Sam's family diversified out of their zillion-dollar holdings long ago.

Thu, 08/14/2014 - 09:10 | 5091739 nakki
nakki's picture

Yesterday I was in grocery store and was walking past the lunch meat section when I noticed that the Ball Park Angus Hot Dogs were priced @ $6.39 per pack. I tend to do most of my family's shopping so I obviously have noticed that most products have increased in price at a rate of 20% over the last year, but $6.39 for a pack of Hot Dogs? If Walmart is doing poorly just imagine how other stores are doing. 

Thu, 08/14/2014 - 09:41 | 5091887 MachoMan
MachoMan's picture

you that you shouldn't be eating that bullshit anyway.

Thu, 08/14/2014 - 09:45 | 5091910 nakki
nakki's picture

Never said I bought them, just shocked at the price. Of course they did have Hot Dogs for $1.29 a pack. Just imagine what they are made of.

Thu, 08/14/2014 - 09:31 | 5091848 johnnymustardseed
johnnymustardseed's picture

Fuck WalMart. Like they are great for the US economy. If they gave a shit they wouldn't suck billions off taxpayers. They make 6 billion a year on food stamps from their own employees.

http://www.forbes.com/sites/clareoconnor/2014/04/15/report-walmart-worke...

Thu, 08/14/2014 - 09:49 | 5091930 Red Raspberry
Red Raspberry's picture

Can't hardly walk through my local WM due to the aisles filled with cheap Busch beer at $9.99 a 30 pack.

Thu, 08/14/2014 - 10:20 | 5092064 Ms. Erable
Ms. Erable's picture

I have trouble getting past the people with the 30-pack stomachs.

Thu, 08/14/2014 - 09:55 | 5091955 mastersnark
mastersnark's picture

I've noticed more urine on the floor and screaming colored children at my Whole Foods, so I'm sure this is just a reflection of the population's shift from Walmart to Whole Foods that our recovery has enabled.

Thu, 08/14/2014 - 10:52 | 5092208 F.A. Hayek
F.A. Hayek's picture

Grass-fed filet and wild salmon always tastes better when someone else is paying for it. FORWARD!

Thu, 08/14/2014 - 10:25 | 5092082 DullKnife
DullKnife's picture

Mom-in-law had a 2,500 deductible hospital plan with BlueCross California for about $330 a month.

She was grandfathered into it.

Seems though BC wanted her and others like her pushed into ObamaCr*pCare as when the time people had to sign up for Cr*pCare, BC jumped her premium another 21 percent to the point her after tax income from her part time job (used to be full time) would not cover her BC premium.

So we got BC's Cr*pCare Bronze Plan for her.   Because you, you and you over there...taxpayers would pay for her Cr*pCare.  About $650/month of which she is billed a dollar.   It is worth a dollar, but not much more.   $5,000 deductible.  BC gets about $8,000 per year in premiums (from taxpayers).  Copay is hefty.  Patient pays aboiut 35 percent.  BC only pays 65 percent. And her BC Bronze Plan book is mostly about the wide variety of what they will not cover.

Good deal for BC and the other insurers who get to sell cr*p at gun point to the victims, er citizens.   Instead of getting $300 and change for her coverage monthly, BC now gets a check for about $650 per month and she being low income, has a hard time coughing up the $5,000 annual deductible before BC will pay anything, for the limited items they cover, and 35 percent out of pocket is also a lot.

Obama Cr*pCare is kind of like the California Earthquake insurance the Calif Govt (a One Party State) created.  The Earthquake insurance is high cost and low coverage, with a large deductible.   I read the coverage terms and any reasonable person has to react with "WTF?!"   Happily, no gun pointing at my head to buy that manure....yet.

Forced buying of this or that is SO anti-Constitutional.  SO dictatorial.

We be the USSA now.

DK

p.s. btw, Mom-in-law got laid off from her part time job.  Gets a little unemployment but as soon as benefits run out, she will no longer be unemployed per Ob*ma statistics.   May be sitting at home or dumpster diving but at least she will no longer be adding to the official unemployment numbers.

In fact, per Ob*ma statistics, when everyone is permanently unemployed, Ob*ma can report the USSA is 100% employed.

 

Thu, 08/14/2014 - 10:41 | 5092149 DullKnife
DullKnife's picture

p.s. Here in Mexifornia, the Free Sh*t Army is large.  Wife needed some physical therapy for shoulder/upper arm.  Local hospital bleeds red ink via the Free Sh*t Army (not all illegals) hits up their Emergency Room for any and all.   (bring a book if you need go there...a thick one).

So the hospital has to screw over the paying patients.   Wife priced the hospital's outpatient physical therapy service (outpatient, off site clinic)....about $400 for initial eval and about $300 for treatments.   

Local independent physical therapy place...$150 for initial eval and $100 for (1 hour) teatments.

Now have to decide which place to go to....

duh?

 

Who broke the Health Care system?   Maybe the Free Sh*t Army?   

Thu, 08/14/2014 - 10:37 | 5092129 1stepcloser
1stepcloser's picture

These people are broke

 

http://www.peopleofwalmart.com/

Thu, 08/14/2014 - 11:31 | 5092410 Skip
Skip's picture

The Walton Family gave MILLIONS to the OBONGO campaigns of 2008 and 2012. This shows that often the spawn of truly good men are CRAP-COMMIES.

Thu, 08/14/2014 - 11:53 | 5092552 SantaClaws
SantaClaws's picture

A walk through Walmarts in New England often show thin or non-existent traffic.

 

In those stores, Walmart sells groceries but can't seem to do anything with produce.  Little offered and what is offered looks awful.  Maybe hard to import from China.

 

Query when will the EBT community get smart and learn to prepare their own meals. When that crowd stops buying pre-packaged foods, the Walmarts of the world will be in deep trouble.  Maybe they'll turn their stores into legalized weed outlets.

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