Wal-Mart: Our shoppers are 'running out of money'
Just because of gas prices, or are there other factors as well?
Ever look at how many things sold at Walmart (and elsewhere, no need to pick out just one retailer) are made abroad? It doesn't take a financial genius to figure out what that does to jobs in America, and to the wages of people who still have jobs.
If the lower middle class, and the poor have money, then businesses like Wal Mart have a market. If they don't, then there is no market.
Henry Ford figured that out a hundred years ago. If the people on the assembly lines can't afford what they are making, where is the market?
NEW YORK (CNNMoney) -- Wal-Mart's core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.
"We're seeing core consumers under a lot of pressure," Duke said at an event in New York. "There's no doubt that rising fuel prices are having an impact."
Just because of gas prices, or are there other factors as well?
Ever look at how many things sold at Walmart (and elsewhere, no need to pick out just one retailer) are made abroad? It doesn't take a financial genius to figure out what that does to jobs in America, and to the wages of people who still have jobs.
If the lower middle class, and the poor have money, then businesses like Wal Mart have a market. If they don't, then there is no market.
Henry Ford figured that out a hundred years ago. If the people on the assembly lines can't afford what they are making, where is the market?