From Yahoo Finance: Walmart Friday said bad weather and cuts in food stamp support for the poor weighed on US sales and would hit earnings for its November-January fourth quarter.
Wal-Mart Stores Inc., the world's largest retailer and the country's largest single private sector employer, said it now expects sales at its namesake US stores and its Sam (Paris: FR0011660836 - news) 's Club chain to be "slightly negative" for the quarter, which included the crucial holiday shopping period.
Previously the company forecast "relatively flat" sales at Walmarts and 0-2 percent growth at Sam's Clubs.
Walmart reports fourth-quarter earnings on February 20. The company had previously forecast underlying earnings of $1.60-$1.70 per share....
Holley cited deeper-than-expected cuts to benefits under the US Supplemental Nutrition Assistance Program -- food support for the poor -- and heavy weather in some areas that had forced some temporary store closings and kept consumers away.
http://uk.finance.yahoo.com/news/walmart-warns-fourth-quarter-profits-145429846.html?.tsrc=yahoo?date20120209
Wal-Mart and other grocery stores make a whole lot of money off the poor and those on food stamps and if the food stamps dried up, it would hurt many, many stores.
On another item, today was 1st of the month, the day when the morons shop.
Sadly, you can tell, with about 75% accuracy, who is on food stamps or not- and this is not about race. At the place I work at, most of the food stamp queens and kings are white.
The way I can tell if a person is on food stamps is:
1. Their children are out of control in the store.
2. A person has a whole lot of ugly tattoos.
3. They buy a bunch junk food with just a little bit good food.
4. They buy named brand items as opposed to generic.
5. They look unshaven, wear pajamas, hairs in curlers or wear other sloppy clothes or look like crap.
If you take 2 or more in combination, your chances are good to pick out who is on food stamps or not.
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