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Wal-Mart: Our shoppers are 'running out of money' [View All]

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Newsjock Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-27-11 08:35 PM
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Wal-Mart: Our shoppers are 'running out of money'
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Source: CNN

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."

Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.

... "Purchases are really dropping off by the end of the month even more than last year," Duke said. "This end-of-month (purchases) cycle is growing to be a concern.

Read more: http://money.cnn.com/2011/04/27/news/companies/walmart_...
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