By Joshua Holland / Alternet
In a consumer-driven economy, you can only squeeze ordinary working people so far before they're no longer able to buy the goods and services required to keep the ship afloat.
Walmart may be learning that simple truth the hard way. On Friday, Bloomberg reported a series of emails between company executives freaking out over the super-store's dismal start to the new year. “Well, we just had one of those weeks here at Walmart U.S.,” wrote Cameron Geiger, senior vice president of Walmart U.S. Replenishment. “Where are all the customers? And where’s their money?” Another exec, Jerry Murray, Walmart’s vice president of finance and logistics, described the latest sales figures as, “the worst start to a month I have seen in my ~7 years with the company.”
↧