Wal-Mart calls post-Thanksgiving sales "weak, disappointing, modest"

http://www.msnbc.msn.com/id/6603721/

NEW YORK - The start of the holiday season was respectable but unimpressive for many of the nation’s retailers, with consumers jamming stores and malls on Friday and pulling back as the weekend wore on.

Big chains including J.C. Penney and Sears were pleased with their sales. But Wal-Mart Stores Inc. was less fortunate — the industry leader said its sales in the seven days that ended Friday were disappointing, and the company lowered its sales forecasts for November.

“Friday overall was strong, but Saturday was weak and disappointing, so together it was only a modest two-day performance,” said Michael P. Niemira, chief economist at International Council of Shopping Centers. “Still, I continue to believe that this is not a bellwether for how the season will end up.”

Wal-Mart’s holiday weekend sales suffered because it didn’t offer the deep discounts it did in past years, hoping to boost profits, analysts said. Penney and Sears did better by wooing customers with two days of big price breaks. “Wal-Mart was a big loser because they didn’t get the same numbers of early bird shoppers as they did a year ago,” said C. Britt Beemer, chairman of America’s Research Group, based in Charleston, S.C. “The retailers that won this weekend were the ones that were super aggressive in special purchases and special pricing.”



"Gimme Gimme Gimme Gimme Gimme Gimme Gimme Gimme Gimme Gimme GIMME!"

"Greed is GOOD" - Michael Douglas as Gordon Gecko, "Wall Street"

up?

...I think they're basing this on how much the people who showed up actually spent...and the amount they spent (or more accurately didn't spend) was a let-down...

Haven't set foot in one in over three years. Hope they die a painful death.

People have to make a living wage to afford even Walmart's shit.

items. But from what I have heard, by Sunday sales were poor. Interesting to see how this Great Bush Economy will do this Christmas season.

HA ha!!

And had two-hour lines when it opened. It featured a ton of "Black Friday" specials including $499 notebooks.

Wal-Mart's famous for its "super aggressive...special purchases and special pricing," even though most items are the same prices as other stores. Looks like they're getting hoist by their own petard this year.

If the trend in the article bears out, retail sales might be strong this year but profits would be down. And the market moves primarily by profits.

...shopping someplace else? How dare they buy something at Tower Records or Sears!

And it showed video of people shoving each other to get into the stores first thing Friday morning. I wanted to puke. :puke: What is wrong with our country? I'm happy to know that Sprawl-Mart wasn't happy with it's numbers. I'm one of the many (and growing) who have decided to opt out of the shopping frenzy.

China China China China

Let's have a moment of silence to mourn their losses...





























NOT! :crazy:

Some intentionally, some because there is no more water at the well. This country is tapped out. Even those standing in those long lines were probably buying a lot more cheap crap (kind of a given at Walmart) than usual. Personally I have refused to buy so much as a gumball from a Wallmart for over 10 years now...and I haven't felt like I missed a thing.

Still, seeing their prescious stock tank does my heart good. Walmart drying up and going away would be a national present. (well I can wish can't I?)

Somebody told me their corporate anthem is "What a Friend We Have in Jesus."

bimart's employee owned.