Reply #84: Wal-Mart: Our shoppers are 'running out of money'

[kpete]

Source: CNN

Wal-Mart: Our shoppers are 'running out of money'


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."

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.

Lately, they're "running out of money" at a faster clip, he said.

Read more: http://money.cnn.com/2011/04/27/news/companies/walmart_ceo_consumers_under_pressure/index.htm