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Wal-Mart Tumbles After Slashing Revenue Guidance, Warns Of "Somewhat Slower" Profit Growth
If anyone wanted any confirmation that corporate earnings are always and only driven by the (very rigged) market, look no further than Wal-Mart, which moments ago did the inevitable: it just cut its sales forecast by nearly half, to just 2-3% from the prior forecast of 3-5%. From Bloomberg:
- WAL-MART SEES NEXT 3 YRS PROFITS GROWTH 'SOMEWHAT SLOWER'
- WAL-MART SEES FY16 SALES GORWTH 2-4%
- WAL-MART SEES NEXT 3 YRS SALES TO GROW 2.5%-3.5%
Also per Bloomberg, Wal-Mart Stores Inc. plans to dramatically scale back expansion of its U.S. supercenters, while investing more in e-commerce in an effort to pursue customers where they are shopping.
So instead of growth, what will WMT spend its money on? Why making its shareholders as rich as possible, while firing thousands and converting full-time workers to part-time status:
- WAL-MART SEES USING CASH ON DIVS, SHARE BUYBACKS
It's days like today when we wish Tim Geithner's hadn't "welcomed the recovery" back in August 2010.
and so... WMT stock tumbles to the lows...
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this is going be an "EPIC" train wreck!
you sure Tyler??? the Dow spiked 100 points on that news just now...fuckin 100 points in a blink of an eye....its either PPT on nitro or there is absolutely NO FUCKIN LIQUIDITY out there
Wal Mart will stop selling hockey sticks after this winter season. Just bats and lots of them.
Umm, are those fruit bats? are they in the Deli section?
Meh..... They just need to throw more peopleon the Snap program to fix margins.
... and allow investors to buy stock with EBT cards.
Need some blue light specials....oh wait
HD, Walmart, Target, Lowes' .. utter debasement of US shopping experience.
My dad, being retired, goes to a lot of these stores for household goods and project supplies, etc.
He says that, "One could run around nude in some of them and not be noticed."
He says that Home Depot and Lowes used to be full of shoppers, but not any more. He wonders, "How they can make any money with that many square feet of space?"
He is seeing the trend.
An American, not US subject.
"Oh, say, can you see..."
Is your dad shopping at HD or LOW desert cities CA? Our stores here are bomb-scare-zones, and these companies have to be booking inventory replacement orders as final sales, and then storing the shipments in some inventory-tax-free warehouse, booking it all as profits. Levitz Furniture 1970 funny money accounting rings a bell.
HD traffic is this low: entering the store recently, I checked my pockets for keys, CCs and phone, and in the process unknowingly dropped a $50 / 32 GB thumb drive out onto the entranceway.
On checking out 40' later I discovered the thumb drive missing, and going right to where I walked in, there it was, lying in plain sight for all to see on the entrance walk, and for me to retrieve.
During the peak 2004-05-06 CA fed-sponsored home-buying/refi/heloc spendithon binge, that thumb drive would have been picked up in minutes by the bustling thundering herd of HD traffickers..
The collolary? Mistakenly rode my $600 20# aluminum Fuji roadbike to Wal*Mex for a quick RX pick-up a year ago, and came out to find the bike G-O-gone. People sitting in their pick-up trucks in the parking lots, with now-illegal bolt cutters, watching you go into the store, and then quickly cutting loose your bike for a fast pick-up and a $100 cash sale later in the next town over, and you going home by cab.
I am surprised that there is any growth at all with the median income of the serfs being lower.
shadow growth and or holographic growth you know, soo comes home to roost.
Janet > WMT
Look at stocks go!!! What a fucking joke.
Just a second here, if the walmartians are buying less cheap chicom crap who will the chicoms be selling their cheap crap to?
The Russians?
Walmart's "profits" are very dependent on those EBT cards working.
Unless it tumbles to 50 or lower, it's still overpriced.
Selling complete. Time for rally. Today's turnaround is the clue.
Up 10% over the next week. We'll be at S&P 2000 by Halloween. Trick and treat, bitchez!
I disagree; but it's only an opinion. I'll be studying the chart for signs to go short if it gets back to 1965.
Yeah? And what did the chart tell you when the S&P made it to 1000? Then 1100? Then 1200? Then 1300? Then 1400? And so on.
Technical analysis is so 2008.
What are you in here for?
Charts fucked me.
The bloodied public pension funds salute you, sir. Carry on.
look at fuckin janet go baby, she can really keep the fuking circus going eh?
that dow may as well be tied directly to her fucking cunt.
Where else can you buy a loaf of bread, deodorant, a tire, and an Xbox One at two in the morning?
Buy Buy Buy!!!
What a Moron Jim Cramer is!!!
My former employer (Evangelical, tea party republican, chicken hawk and great American) had Cramer on the tube all day in his office. He claimed to be a former trader but turns out to be a former office manger (towel boy anyone) anyway his guru was Loui Lavalamp and he now spends his time trading penny stocks.
Fuck that, CNBC just said....
Looks like a silver chart. Hahaha... Paper pushers getting nervous ?
But there has been a miraculous recovery in the last hour. It's a fucking miracle yet again. Now if I would have had inside information I could have made a lot of digits that I would have spent on booze, blow and hookers.
Rocky, 1010. Just can not keep the Stallion down.
Adriaaaaaaaaaane!!!!!!
The Fed and plunge protection team will be busy before the election.
Fake tits are fake!
That's it, buy back more stock while earnings crumble to boost the stock price. Like everyone is doing it.
When I came into work today the ES (S&P futures) were down 17pts. After the horrible data, ebola and now WMT we are actually UP on the US trade. Un-fucking-Bieberable!!!
Did you go short? No. Good. When the fuckers pull the plug there will be no time to place a short. So, just sit back and enjoy the manure spreader version of Nascar.
I covered some shorts I put on a month ago when the DOW was down 420 (rasta) today. I'm not complaining. I'm just saying when all is said and done, if you bought equity futures this morning you made money. That is fucked up.
Ammo is very reasonable - when they have it.
Yesterday I noticed a few GI-style cans of 840 rounds on stripper clips. M855 Federal. Only $319
I don't need M855 right now, but that's pretty good.
If they get some .22LR, THEN I'll be a customer.
Walmart could eliminate a 1/4 of all shelf space dedicated to cheap chinese crap & just stock all types of .22LR ammo. They would be amazingly profitable.
Old motto: "Lower Prices, Always"
New Motto: "America's Ammo Shop"
12 min to go green
Our local Walmart is so empty as to make me wonder if I have somehow stayed past closing time, but it never does close, it just stays empty 24/7.
Right next door is the center's previous anchor tenant, the biggest closed big box store I have or ever will see, the 7 year old Sam's Club, which lasted all of about 3 years.
Nearby desert cities CA closed Best Buy, Kroger, Dodge, Cadillac, Ace Hardware, 3 banks and 4 restaurants - makes you ask: Isn't this how ghost towns get started?
DOW down "Just over 100" says CNBS. Are we going to see a bang on the close? They want green. Reminds me of 2008.
'S&P Breaks Below Key Support, But Usually Rises'.....that's an actual headline on CNBC right now, no shit!
VIX crushed
Da Bears
Share buybacks today mean share sales tomorrow.
How could Wally World's revenue slowing possibly be interpreted as a bad thing?
if you you despise the spawn of satan's retail network. you still have to realize that if people are too poor to shop at walmart, we've crossed a very dangerous line.
The Walmart here in Silicon Valley (Mountain View, CA) is at all times totally mobbed. It is a throng of shopping humanity. The thing is, in this area there are not a lot of cheap shopping options, and Walmart is much cheaper than anywhere else nearby. Baked beans that are $2.78 at Safeway, are about $1.78 at Walmart. I am starting to see upper middle class people hold their noses and go there to shop, or at least talk about the possibility.
I realize that this is not the norm.
Kareninca is right. I live in Sonoma County and worked for a short time at a local Walmart, in an upscale ommunity. More and more well off consumers are shopping at Walmart because of Safeways high prices. This may be an anomaly, but it has been happening at this one particular store. Canned goods, etc., are much less expensive there. They do treat their workers like dogmeat, though, and I only lasted 2 months to the day. I, for one, can't wait to see Walmart fall to it's knees. And, yes, it's true that if it weren't for EBT, Walmart would be empty.
Hate to be glad Soros is making money but if it means Walmart crashes and burns so be it. Yipee Yi Yipee Ya Yipee Yip Yip Yip.
They should turn Walmarts into community dumps and bulldoze them with the junk they sell still on the shelves.
How is this news? Walmart execs were on CNBC (i know, blasphemous that I watched, please forgive me) months ago specifically saying that the bottom 80% consumer isn't back even as the talking heads were trying to say how great retail and consumer momo was.
get rid of walmart. walmart wrecked my town. i remember even before the market crash in 09 walmart was bringing all these dumb toothless white southerners up north here to work. teaching them how to sign up for state health insurance because walmart wouldn't pay for it. and then the drugs and the black gangs moved in. then we got dirty cops.
Correlation DOES NOT mean causation! -1