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On 13 Aug 2003 23:26:02 GMT, ospam (F330 GT) wrote:

"NOYB" wrote in message
news "I am pleased our associates achieved record quarterly sales and
earnings,"
said company president and chief executive Lee Scott.
Lots Snipped

How can this be? The economic news, according to most libs, is absolutely
atrocious. Millions upon millions are out of work and looking hard for jobs.
(Many more millions just draw their welfare checks.) The USA is sinking
rapidly.
And, its all George's fault.

Yet WM is going crazy, as are many other retailers. Is it because only the
'rich' shop at WM? After all, they are the only ones to have received any
benefits from a tax cut. Right?

Have I just gotten more stupid in my old age?

Respectfully,

John
On the 'Poco Loco' out of Deale, MD

Things are not always as they seem in the stock market. That's why Walmart
stock went down upon releasing it's earnings.

Looking farther into it:

"A turnaround in the Sam's Club division helped Wal-Mart overcome disappointing
results at its namesake stores and post a 20 percent jump in quarterly profit,
the company said Wednesday.
Sales at the company's namesake and core unit, however, missed sales
expectations amid a challenging retail environment and deeper discounting than
anticipated.

Scott noted too that sales in the last two weeks of the quarter were driven by
smaller tax withholdings and the child-credit rebate. He added that consumer
spending could not continue to hold up the economy without job growth."

The press release also noted that international sales were up 18.8% which
accounted for much of the increase in sales.

Barry

I wasn't referring to the price of Wal-Mart stock. I was referring to the same
events referred to above, to wit: "Scott noted too that sales in the last two
weeks of the quarter were driven by smaller tax withholdings and the
child-credit rebate. He added that consumer spending could not continue to hold
up the economy without job growth."

I had heard so much BSR to the effect that the tax breaks were going only to the
'rich'. I honestly don't think it's the 'rich' folks who are doing the spending
at Wal-Mart.

John
On the 'Poco Loco' out of Deale, MD

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