| Page 1 of 2 | 1 | 2 |
|
|
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"I am pleased our associates achieved record quarterly sales and earnings,"
said company president and chief executive Lee Scott. ....except in Rochester, right Doug? Hehehe. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"NOYB" wrote in message
hlink.net... "I am pleased our associates achieved record quarterly sales and earnings," said company president and chief executive Lee Scott. ...except in Rochester, right Doug? Hehehe. The sales figure doesn't break apart categories. The only thing I've bought repeatedly at WM, on an experimental basis, was groceries. With that in mind, I can only tell you what I see: 1) I track grocery prices for my own shopping, using about 50 items I buy repeatedly. Wegman's, a locally owned, high-quality behemoth of a chain, is consistently cheaper on 3/4 of the items. For the other 25% of the items, they're so close that it's not worth bothering with Wal Mart, with its aisles littered with empty boxes, spotty unit pricing (a trick, by the way), 30 minute lines at the registers and annoying "don't give a damn" employees. Further, I won't buy meat at WM because it's tainted with some sort of crap to tenderize it. (Read the labels). And, the produce looks like the stuff I leave for the squirrels in my garden, laying under the good stuff. 2) On any busy weekend, the Wegman's (4 blocks from WM) is packed with customers. No matter: At any register, I'm out in 5-8 minutes. 3) Tops, another chain (owned by Ahold) is now being serviced by one of the two largest wholesalers East of the Mississippi. This particular wholesaler buys at better prices than WM most of the time. It's reflected in the Tops stores, whose prices are suddenly giving WM and Wegman's a run for their money. Don't question #3. It's the business I'm in. I know how WM buys groceries. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"JohnH" wrote in message
... 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? Perhaps many of us have given up trying to find clothing made in this country. Once you've accepted the situation, you may as well buy it where it's price reflects its true quality. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"NOYB" wrote in message
hlink.net... "I am pleased our associates achieved record quarterly sales and earnings," said company president and chief executive Lee Scott. Uh oh. Wallmarts numbers ain't gonna be so good next quarter if the mortgage refinancings that've put $ in people's pockets keep dropping precipitously. By Richard Leong Reuters Wednesday, August 13, 2003; 9:23 AM NEW YORK - The number of applications Americans filed for mortgage loans dropped last week to its lowest level in more than a year, even as mortgage rates subsided from their recent spike, according to an industry survey. The Mortgage Bankers Association of America said on Wednesday its seasonally adjusted gauge of overall mortgage requests fell to 824.6 for the week ended Aug. 8, down 16.1 percent from the previous week's 983.2. The group's weekly barometer of mortgage demand fell to its lowest level since 815.2 for the week of July 19, 2002. Although overall mortgage demand remains high on a historical basis, the previously red-hot level of refinancing, which has put money into consumers' pockets, has cooled rapidly. Applications for refinancing made up 55.8 percent of all new requests filed last week, down from 72.1 percent a month ago. "We are on the downside, but it (refinancing) has not gone away completely," Mortgage Bankers Association's chief economist Douglas Duncan told Reuters. Duncan estimated that the refinancing boom will be over when the weekly share of refinancing applications falls to about 20 percent to 25 percent of all new applications. The recent rise in mortgage rates has hit refinancing -- down 67.5 percent since its peak in May -- much harder than demand for loans to buy homes, down around 10 percent. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"JohnH" wrote in message
... On Wed, 13 Aug 2003 19:20:26 GMT, "Doug Kanter" wrote: 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? Chance are good. You may want to wait and find out if Target, K-mart and other retailers are seeing the same spike. Wallymart may be enjoying more business because they're selling more cheap goods manufactured in China. Also, as you may know, mortgage refinancings have been driving a lot of liquidity into the economy. That's now trailing off and I expect the free flow of money will follow. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"JohnH" wrote in message
... On Wed, 13 Aug 2003 21:12:46 GMT, "Doug Kanter" wrote: Doug, the question referred to the fact that people are spending more money, not where they are spending it. How can you assert that when the news simply reflected Walmart and not the general state of discount retailers? How are Walmart's competition doing? If they're doing well, then you may have a case. If not, money may simply be shifting from one retail outfit to another, potentially based on price. See, there's more of the conservative vs. liberal thinking. Our lot is willing to be patient and make a judgement when all the data is in. You folks want to make a case on one month, one day, one report. Sorry bud, that dog won't hunt. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
On Wed, 13 Aug 2003 16:34:59 -0700, "jps" wrote:
"JohnH" wrote in message .. . On Wed, 13 Aug 2003 21:12:46 GMT, "Doug Kanter" wrote: Doug, the question referred to the fact that people are spending more money, not where they are spending it. How can you assert that when the news simply reflected Walmart and not the general state of discount retailers? How are Walmart's competition doing? If they're doing well, then you may have a case. If not, money may simply be shifting from one retail outfit to another, potentially based on price. See, there's more of the conservative vs. liberal thinking. Our lot is willing to be patient and make a judgement when all the data is in. You folks want to make a case on one month, one day, one report. Sorry bud, that dog won't hunt. Gosh, jps, I'd have expected you to do this: ----------------------------------------------------------------------------- Economy shows further signs of recovering By Patrice Hill THE WASHINGTON TIMES More signs that the economy is gathering strength emerged yesterday as big retailers like Wal-Mart reported their best sales in a year while productivity boomed and unemployment claims dropped for a third straight week. The increase in same-store sales last month, at 4.3 percent, was nearly double the pace set in May and June in a survey of big department stores by the Bank of Tokyo-Mitsubishi Ltd. Wal-Mart, the biggest retailer, said better-than-expected sales were partly the result of tax rebate checks. With consumer momentum building, the retailer boosted its profit outlook for the rest of the year. "It was a good month, and it may be a good omen for the second half," said Michael P. Niemira, vice president of the Tokyo bank. Although warm weather and heavy discounting by retailers accounted for some of the gains, "this could be the start of a much better trend," he said. Some analysts said consumers seem to be spending more on clothing, furniture and other discretionary items because sharply higher interest rates since June have dampened interest in buying cars and houses. While consumers were shifting into a higher gear, the number of people filing new claims for unemployment benefits dropped for a third straight week to 390,000 last week, a sign that the stagnant job market may be improving. The four-week average of new jobless claims compiled by the Labor Department dropped below 400,000 for the first time since February. Businesses so far during the economic recovery have met growing demand with the same or fewer workers because of strong productivity gains. That continued during the second quarter, with a stunning 5.7 percent jump in productivity reported by the Labor Department yesterday. Analysts said the acceleration in consumer spending seen last month may force businesses to start adding workers soon. The "amazing" productivity gains eked out by businesses and workers in the last few years have been "the silver lining in the jobless recovery," said Bill Cheney, chief economist for John Hancock Financial Services. But "based on today's jobless claims report, this recovery may not be jobless that much longer." .... (Continued) --------------------------------------------------------------------------- But you didn't. Most respectfully, John On the 'Poco Loco' out of Deale, MD |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
|
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"JohnH" wrote in message
... 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. No, stupid Americans with Child tax credits in a spendy mood. They bought several six packs and some new underwear and called it a day. BTW, most of those sales were at Sam's Club, not Wallymart. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
Is the proverbial glass always half empty for you Gene?
"Gene Kearns" wrote in message ... On Wed, 13 Aug 2003 16:55:16 -0400, JohnH wrote: Lots Snipped Lots more 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. Most of those people will keep on looking for those jobs, too, unless they look for that job where your dollar ended up in that third world country. (Many more millions just draw their welfare checks.) The USA is sinking rapidly. And, its all George's fault. More likely the culprit is ditech.com and similar businesses. When the slowdown in mortgage activity shows its effect, the truth of how bad things *really* are will hit home. Yet WM is going crazy, as are many other retailers. Right? Wrong.... re-read the news on WM. Sam's Club saved their bacon..... Have I just gotten more stupid in my old age? No, just more cynical... and less willing to see the fallibility of those you see as leading the charge toward more prosperity. -- Grady-White Gulfstream, out of Southport, NC. http://myworkshop.idleplay.net/cavern/ Homepage http://www.southharbourvillage.com/directions.asp Where Southport,NC is located. http://www.southharbourvillage.com/autoupdater.htm Real Time Pictures at My Marina http://www.thebayguide.com/rec.boats Rec.boats at Lee Yeaton's Bayguide |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
Jim wrote:
Isn't it funny how the libs all of a sudden grow silent when positive economic news like this is reported (during GWB's Presidency)? What a coincidence! "JohnH" wrote in message ... On Wed, 13 Aug 2003 16:34:59 -0700, "jps" wrote: "JohnH" wrote in message .. . On Wed, 13 Aug 2003 21:12:46 GMT, "Doug Kanter" wrote: Doug, the question referred to the fact that people are spending more money, not where they are spending it. How can you assert that when the news simply reflected Walmart and not the general state of discount retailers? How are Walmart's competition doing? If they're doing well, then you may have a case. If not, money may simply be shifting from one retail outfit to another, potentially based on price. See, there's more of the conservative vs. liberal thinking. Our lot is willing to be patient and make a judgement when all the data is in. You folks want to make a case on one month, one day, one report. Sorry bud, that dog won't hunt. Gosh, jps, I'd have expected you to do this: ----------------------------------------------------------------------------- Economy shows further signs of recovering By Patrice Hill THE WASHINGTON TIMES More signs that the economy is gathering strength emerged yesterday as big retailers like Wal-Mart reported their best sales in a year while productivity boomed and unemployment claims dropped for a third straight week. The increase in same-store sales last month, at 4.3 percent, was nearly double the pace set in May and June in a survey of big department stores by the Bank of Tokyo-Mitsubishi Ltd. Wal-Mart, the biggest retailer, said better-than-expected sales were partly the result of tax rebate checks. With consumer momentum building, the retailer boosted its profit outlook for the rest of the year. "It was a good month, and it may be a good omen for the second half," said Michael P. Niemira, vice president of the Tokyo bank. Although warm weather and heavy discounting by retailers accounted for some of the gains, "this could be the start of a much better trend," he said. Some analysts said consumers seem to be spending more on clothing, furniture and other discretionary items because sharply higher interest rates since June have dampened interest in buying cars and houses. While consumers were shifting into a higher gear, the number of people filing new claims for unemployment benefits dropped for a third straight week to 390,000 last week, a sign that the stagnant job market may be improving. The four-week average of new jobless claims compiled by the Labor Department dropped below 400,000 for the first time since February. Businesses so far during the economic recovery have met growing demand with the same or fewer workers because of strong productivity gains. That continued during the second quarter, with a stunning 5.7 percent jump in productivity reported by the Labor Department yesterday. Analysts said the acceleration in consumer spending seen last month may force businesses to start adding workers soon. The "amazing" productivity gains eked out by businesses and workers in the last few years have been "the silver lining in the jobless recovery," said Bill Cheney, chief economist for John Hancock Financial Services. But "based on today's jobless claims report, this recovery may not be jobless that much longer." .... (Continued) --------------------------------------------------------------------------- But you didn't. Most respectfully, John On the 'Poco Loco' out of Deale, MD The Washington Times? The Moonie Paper? Hehehe. Trash is as trash reads/ |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
F330 GT wrote:
"NOYB" wrote in message arthlink.net... "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 Please, don't confuse our simple-minded righties with hard economic facts, eh? They might burst a blood vessel. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"Gene Kearns" wrote in message ... On Thu, 14 Aug 2003 00:33:35 GMT, "Jim" wrote: Is the proverbial glass always half empty for you Gene? Certainly not, but then, I'm not afraid to face reality, either. Wearing rose colored glasses serves no useful purpose that I am aware of. So show me where I am viewing life with rose colored glasses Eugene. Please provide some facts showing the economy is on a decline. As you (should) know the current state of the economy, especially when considering the forecast state of affairs, is about the worst the libs (come on Eugene, admit you are one) could imagine....Improved retail sales, drastic gains in the stock market (DJ and Nasdaq), increased productivity, lower unemployment, rock bottom interest rates...the list goes on. And the economy is only expected to improve in the coming months. A libs nightmare when a Republican is President! Right Gene? |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"Harry Krause" wrote in message ... Jim wrote: Isn't it funny how the libs all of a sudden grow silent when positive economic news like this is reported (during GWB's Presidency)? What a coincidence! Perhaps a taste of reality is in order here, eh? Wal-Mart's second-quarter net income increased to $2.44 billion, or 56 cents a share, compared with $2.02 billion, or 45 cents a share, a year earlier. That result included four cents in earnings from discontinued operations, with a gain from the sale of its McLane grocery-wholesaling unit. Net income from continuing operations rose 15% to $2.3 billion, or 52 cents a share, from $2.0 billion, or 45 cents a share, the company said. The result was in line with estimates given last week when Wal-Mart reported July sales. Sales increased 11% to $62.6 billion, while same-store sales increased 3.2%. "Consumer spending remained sluggish for most of the second quarter, and Wal- Mart struggled to rid itself of bloated inventories, which had grown faster than sales during the previous quarter. Heavy markdowns pressured profits, and inventory at the close of the quarter was up 9% from year-ago levels - slightly less than sales, but greater than the company's longer-term goal for inventory to grow at less than half the rate of sales. Comparable-store inventories increased by a low-single-digit percentage, Wal-Mart said. "Despite the markdowns, Wal-Mart managed to shore up profits, CEO Scott said. The company reduced its rate of "shrinkage," or losses from stolen and damaged goods, and continued to reap new benefits from increased buying from cheaper manufacturers overseas. "In addition, food margins improved even as domestic comparable-food sales increased 7% to 9%. The company noted that sales of fresh food, particularly at its Sam's Club unit, have grown swiftly. Fresh food carries a higher-than- average margin at the company, noted Bill Dreher, an analyst at Deutsche Bank Securities Inc. in New York." Not that rosy a picture. John On the 'Poco Loco' out of Deale, MD |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"Harry Krause" wrote in message ... Jim wrote: Isn't it funny how the libs all of a sudden grow silent when positive economic news like this is reported (during GWB's Presidency)? What a coincidence! "JohnH" wrote in message ... On Wed, 13 Aug 2003 16:34:59 -0700, "jps" wrote: "JohnH" wrote in message .. . On Wed, 13 Aug 2003 21:12:46 GMT, "Doug Kanter" wrote: Doug, the question referred to the fact that people are spending more money, not where they are spending it. How can you assert that when the news simply reflected Walmart and not the general state of discount retailers? How are Walmart's competition doing? If they're doing well, then you may have a case. If not, money may simply be shifting from one retail outfit to another, potentially based on price. See, there's more of the conservative vs. liberal thinking. Our lot is willing to be patient and make a judgement when all the data is in. You folks want to make a case on one month, one day, one report. Sorry bud, that dog won't hunt. Gosh, jps, I'd have expected you to do this: ------------------------------------------------------------------------- ---- Economy shows further signs of recovering By Patrice Hill THE WASHINGTON TIMES More signs that the economy is gathering strength emerged yesterday as big retailers like Wal-Mart reported their best sales in a year while productivity boomed and unemployment claims dropped for a third straight week. The increase in same-store sales last month, at 4.3 percent, was nearly double the pace set in May and June in a survey of big department stores by the Bank of Tokyo-Mitsubishi Ltd. Wal-Mart, the biggest retailer, said better-than-expected sales were partly the result of tax rebate checks. With consumer momentum building, the retailer boosted its profit outlook for the rest of the year. "It was a good month, and it may be a good omen for the second half," said Michael P. Niemira, vice president of the Tokyo bank. Although warm weather and heavy discounting by retailers accounted for some of the gains, "this could be the start of a much better trend," he said. Some analysts said consumers seem to be spending more on clothing, furniture and other discretionary items because sharply higher interest rates since June have dampened interest in buying cars and houses. While consumers were shifting into a higher gear, the number of people filing new claims for unemployment benefits dropped for a third straight week to 390,000 last week, a sign that the stagnant job market may be improving. The four-week average of new jobless claims compiled by the Labor Department dropped below 400,000 for the first time since February. Businesses so far during the economic recovery have met growing demand with the same or fewer workers because of strong productivity gains. That continued during the second quarter, with a stunning 5.7 percent jump in productivity reported by the Labor Department yesterday. Analysts said the acceleration in consumer spending seen last month may force businesses to start adding workers soon. The "amazing" productivity gains eked out by businesses and workers in the last few years have been "the silver lining in the jobless recovery," said Bill Cheney, chief economist for John Hancock Financial Services. But "based on today's jobless claims report, this recovery may not be jobless that much longer." .... (Continued) ------------------------------------------------------------------------- -- But you didn't. Most respectfully, John On the 'Poco Loco' out of Deale, MD The Washington Times? The Moonie Paper? Hehehe. Trash is as trash reads/ Perhaps you prefer these NY Times headlines: Forecasts for U.S. Recovery Improved Wal-Mart, TIffany report Earnings Surge Retail Sales Rise 1.4% in July Wal-Marts Profits Rise More Than 20% |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
Isn't it funny how the libs all of a sudden grow silent when positive
economic news like this is reported (during GWB's Presidency)? What a coincidence! The Debt To the Penny Current Amount 08/12/2003 6,744,943,168,393.25 Current Month 08/11/2003 6,741,975,510,157.17 08/08/2003 $6,741,662,308,948.83 08/07/2003 $6,738,632,001,233.74 08/06/2003 $6,735,127,561,462.54 08/05/2003 $6,736,678,634,901.89 08/04/2003 $6,732,382,078,949.43 08/01/2003 $6,727,587,083,455.60 Prior Months 07/31/2003 $6,751,195,107,063.07 06/30/2003 $6,670,121,155,027.26 05/30/2003 $6,558,146,735,285.55 04/30/2003 $6,460,380,745,789.28 03/31/2003 $6,460,776,256,578.16 02/28/2003 $6,445,790,102,794.08 01/31/2003 $6,401,376,662,047.32 12/31/2002 $6,405,707,456,847.53 11/29/2002 $6,343,460,146,781.79 10/31/2002 $6,282,527,974,378.50 Prior Fiscal Years 09/30/2002 $6,228,235,965,597.16 09/28/2001 $5,807,463,412,200.06 09/29/2000 $5,674,178,209,886.86 09/30/1999 $5,656,270,901,615.43 09/30/1998 $5,526,193,008,897.62 09/30/1997 $5,413,146,011,397.34 09/30/1996 $5,224,810,939,135.73 09/29/1995 $4,973,982,900,709.39 09/30/1994 $4,692,749,910,013.32 09/30/1993 $4,411,488,883,139.38 09/30/1992 $4,064,620,655,521.66 09/30/1991 $3,665,303,351,697.03 09/28/1990 $3,233,313,451,777.25 09/29/1989 $2,857,430,960,187.32 09/30/1988 $2,602,337,712,041.16 09/30/1987 $2,350,276,890,953.00 SOURCE: BUREAU OF THE PUBLIC DEBT Looking for more historical information? Visit the Debt Historical Information archives. Updated August 13, 2003 |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"jps" wrote in message ... "JohnH" wrote in message ... But you didn't. Most respectfully, Long ways to go in the second half. Sorry, but I don't remember you whining when the market dropped 50% *before* GW took office. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
How'd you get my personal financial records? ;-)
"Gould 0738" wrote in message ... Isn't it funny how the libs all of a sudden grow silent when positive economic news like this is reported (during GWB's Presidency)? What a coincidence! The Debt To the Penny Current Amount 08/12/2003 6,744,943,168,393.25 Current Month 08/11/2003 6,741,975,510,157.17 08/08/2003 $6,741,662,308,948.83 08/07/2003 $6,738,632,001,233.74 08/06/2003 $6,735,127,561,462.54 08/05/2003 $6,736,678,634,901.89 08/04/2003 $6,732,382,078,949.43 08/01/2003 $6,727,587,083,455.60 Prior Months 07/31/2003 $6,751,195,107,063.07 06/30/2003 $6,670,121,155,027.26 05/30/2003 $6,558,146,735,285.55 04/30/2003 $6,460,380,745,789.28 03/31/2003 $6,460,776,256,578.16 02/28/2003 $6,445,790,102,794.08 01/31/2003 $6,401,376,662,047.32 12/31/2002 $6,405,707,456,847.53 11/29/2002 $6,343,460,146,781.79 10/31/2002 $6,282,527,974,378.50 Prior Fiscal Years 09/30/2002 $6,228,235,965,597.16 09/28/2001 $5,807,463,412,200.06 09/29/2000 $5,674,178,209,886.86 09/30/1999 $5,656,270,901,615.43 09/30/1998 $5,526,193,008,897.62 09/30/1997 $5,413,146,011,397.34 09/30/1996 $5,224,810,939,135.73 09/29/1995 $4,973,982,900,709.39 09/30/1994 $4,692,749,910,013.32 09/30/1993 $4,411,488,883,139.38 09/30/1992 $4,064,620,655,521.66 09/30/1991 $3,665,303,351,697.03 09/28/1990 $3,233,313,451,777.25 09/29/1989 $2,857,430,960,187.32 09/30/1988 $2,602,337,712,041.16 09/30/1987 $2,350,276,890,953.00 SOURCE: BUREAU OF THE PUBLIC DEBT Looking for more historical information? Visit the Debt Historical Information archives. Updated August 13, 2003 |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
Jim wrote:
And the source of your quotes and information is?,,,, "Harry Krause" wrote in message ... Jim wrote: Isn't it funny how the libs all of a sudden grow silent when positive economic news like this is reported (during GWB's Presidency)? What a coincidence! Perhaps a taste of reality is in order here, eh? Wal-Mart's second-quarter net income increased to $2.44 billion, or 56 cents a share, compared with $2.02 billion, or 45 cents a share, a year earlier. That result included four cents in earnings from discontinued operations, with a gain from the sale of its McLane grocery-wholesaling unit. Net income from continuing operations rose 15% to $2.3 billion, or 52 cents a share, from $2.0 billion, or 45 cents a share, the company said. The result was in line with estimates given last week when Wal-Mart reported July sales. Sales increased 11% to $62.6 billion, while same-store sales increased 3.2%. "Consumer spending remained sluggish for most of the second quarter, and Wal- Mart struggled to rid itself of bloated inventories, which had grown faster than sales during the previous quarter. Heavy markdowns pressured profits, and inventory at the close of the quarter was up 9% from year-ago levels - slightly less than sales, but greater than the company's longer-term goal for inventory to grow at less than half the rate of sales. Comparable-store inventories increased by a low-single-digit percentage, Wal-Mart said. "Despite the markdowns, Wal-Mart managed to shore up profits, CEO Scott said. The company reduced its rate of "shrinkage," or losses from stolen and damaged goods, and continued to reap new benefits from increased buying from cheaper manufacturers overseas. "In addition, food margins improved even as domestic comparable-food sales increased 7% to 9%. The company noted that sales of fresh food, particularly at its Sam's Club unit, have grown swiftly. Fresh food carries a higher-than- average margin at the company, noted Bill Dreher, an analyst at Deutsche Bank Securities Inc. in New York." Not that rosy a picture. John On the 'Poco Loco' out of Deale, MD The New York Stock Exchange news story based upon statements from Wal-Mart management and those who analyze Wal-Mart stock. -- * * * email sent to will *never* get to me. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"Harry Krause" wrote in message ... Jim wrote: And the source of your quotes and information is?,,,, "Harry Krause" wrote in message ... Jim wrote: Isn't it funny how the libs all of a sudden grow silent when positive economic news like this is reported (during GWB's Presidency)? What a coincidence! Perhaps a taste of reality is in order here, eh? Wal-Mart's second-quarter net income increased to $2.44 billion, or 56 cents a share, compared with $2.02 billion, or 45 cents a share, a year earlier. That result included four cents in earnings from discontinued operations, with a gain from the sale of its McLane grocery-wholesaling unit. Net income from continuing operations rose 15% to $2.3 billion, or 52 cents a share, from $2.0 billion, or 45 cents a share, the company said. The result was in line with estimates given last week when Wal-Mart reported July sales. Sales increased 11% to $62.6 billion, while same-store sales increased 3.2%. "Consumer spending remained sluggish for most of the second quarter, and Wal- Mart struggled to rid itself of bloated inventories, which had grown faster than sales during the previous quarter. Heavy markdowns pressured profits, and inventory at the close of the quarter was up 9% from year-ago levels - slightly less than sales, but greater than the company's longer-term goal for inventory to grow at less than half the rate of sales. Comparable-store inventories increased by a low-single-digit percentage, Wal-Mart said. "Despite the markdowns, Wal-Mart managed to shore up profits, CEO Scott said. The company reduced its rate of "shrinkage," or losses from stolen and damaged goods, and continued to reap new benefits from increased buying from cheaper manufacturers overseas. "In addition, food margins improved even as domestic comparable-food sales increased 7% to 9%. The company noted that sales of fresh food, particularly at its Sam's Club unit, have grown swiftly. Fresh food carries a higher-than- average margin at the company, noted Bill Dreher, an analyst at Deutsche Bank Securities Inc. in New York." Not that rosy a picture. John On the 'Poco Loco' out of Deale, MD The New York Stock Exchange news story based upon statements from Wal-Mart management and those who analyze Wal-Mart stock. -- * * * email sent to will *never* get to me. Post a link. Otherwise you, as usual, are full of it. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
One retail theory is that when the economy is lousy, EVERYONE shops downward
one level. So, even if you prefer Lands' End t-shirts, you may settle for Fruit of the Loom, or whatever WM sells. It's the Puritan Work Ethic/ Depression mentality of our ancestors at work. Most Americans feel compelled to seek out the lowest price. Buying from a more socially responsible company that treats its employees fairly and isn't contributing to the great suburban homogenization of America sounds like a great idea......that somebody else should look into. We're all too busy saving $15 on a color TV to give a dang, personally. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"NOYB" wrote in message
m... "jps" wrote in message ... "JohnH" wrote in message ... 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. No, stupid Americans with Child tax credits in a spendy mood. They bought several six packs and some new underwear and called it a day. BTW, most of those sales were at Sam's Club, not Wallymart. A lot of businesses spend money at Sam's Club. They're taking advantage of the new $100,000 Section 179 tax deduction in the newly passed tax cut. Yeah, that's just where I go when I want to spend 100,000 on new equipment, Sam's Club. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"jps" wrote in message ... "NOYB" wrote in message m... "jps" wrote in message ... "JohnH" wrote in message ... 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. No, stupid Americans with Child tax credits in a spendy mood. They bought several six packs and some new underwear and called it a day. BTW, most of those sales were at Sam's Club, not Wallymart. A lot of businesses spend money at Sam's Club. They're taking advantage of the new $100,000 Section 179 tax deduction in the newly passed tax cut. Yeah, that's just where I go when I want to spend 100,000 on new equipment, Sam's Club. I never said the small businesses are spending the whole enchilada at Sam's Club...but they do have excellent pricing on computer hardware, fax machines, copy machines, phone systems, office furniture, appliances, etc. Can't you expand your small mind for a second and see that Sam's small business sales make up a sizable portion of their total sales. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
|
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"JohnH" wrote in message ... On 14 Aug 2003 14:37:58 GMT, (Gould 0738) wrote: One retail theory is that when the economy is lousy, EVERYONE shops downward one level. So, even if you prefer Lands' End t-shirts, you may settle for Fruit of the Loom, or whatever WM sells. It's the Puritan Work Ethic/ Depression mentality of our ancestors at work. Most Americans feel compelled to seek out the lowest price. Buying from a more socially responsible company that treats its employees fairly and isn't contributing to the great suburban homogenization of America sounds like a great idea......that somebody else should look into. We're all too busy saving $15 on a color TV to give a dang, personally. Are y'all trying to tell me that the 'rich' are taking all their tax savings and shopping at Wal-Mart? Is this really what you're trying to get us dumb neo-cons to believe? Then who's spending their money at Tiffany & Co.? From yesterday's NY Times (of course we know they *lie* about everything, however): "Tiffany & Co., helped by an improving economy in the United States and abroad, reported that profits increased 26 percent." |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
On Thu, 14 Aug 2003 17:45:54 GMT, "Jim" wrote:
"JohnH" wrote in message .. . On 14 Aug 2003 14:37:58 GMT, (Gould 0738) wrote: One retail theory is that when the economy is lousy, EVERYONE shops downward one level. So, even if you prefer Lands' End t-shirts, you may settle for Fruit of the Loom, or whatever WM sells. It's the Puritan Work Ethic/ Depression mentality of our ancestors at work. Most Americans feel compelled to seek out the lowest price. Buying from a more socially responsible company that treats its employees fairly and isn't contributing to the great suburban homogenization of America sounds like a great idea......that somebody else should look into. We're all too busy saving $15 on a color TV to give a dang, personally. Are y'all trying to tell me that the 'rich' are taking all their tax savings and shopping at Wal-Mart? Is this really what you're trying to get us dumb neo-cons to believe? John On the 'Poco Loco' out of Deale, MD Old Chuck is just mad because the economy is showing signs of improvement, certainly not what the libs want to see as the Presidential race is starting to heat up. Being a proclaimed lib Old Chuck is also pro union and dreads good news coming from a non union organization, especially one that has driven many union grocery stores under. So Old Chuck will grasp at straws in trying to spin this positive story into a negative. Yeah. I sure wish Old Chuck, jps, Harry, etc would give me some advice on my manifold and riser questions. Then I'd go spend some of my tax rebate money on same. John On the 'Poco Loco' out of Deale, MD |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
Might be good for the boat and motor companies, and their dealers, to
note that WalMart is successful because every consumer knows how EASY it is to take back something that's defective or even if you just don't like it, to WalMart. I bought a set of Goodyear tires from WalMart a couple of years ago for my Mercedes station wagon. 2 years later, I got a nail in the left front tire. I had purchased WalMarts $9 extended road hazard guarantee, so I took it to my local WalMart and pointed out the nail to the service writer. "Hmm....that nail looks too close to the sidewall for me. Joe, put this man on a new tire, will ya." Joe could have simply plugged the hole and sent me on my way. Tire dealers would have. Not WalMart. I got a new tire.... Guess where I'm going for tires for the other car and truck when they need it. A set of Goodyears from WalMart was $280, with the extra warranty good forever until the tires are worn out. A similar set of Goodyears from the Goodyear dealer was over $500 and, if I'd blown the tire in Kansas for instance, I couldn't have gone into the local Walmart store to get it fixed or replaced in any town...... On Wed, 13 Aug 2003 17:12:53 GMT, "NOYB" wrote: "I am pleased our associates achieved record quarterly sales and earnings," said company president and chief executive Lee Scott. ...except in Rochester, right Doug? Hehehe. Larry Extremely intelligent life must exist in the universe. You can tell because they never tried to contact us. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"Larry" wrote in message ... Might be good for the boat and motor companies, and their dealers, to note that WalMart is successful because every consumer knows how EASY it is to take back something that's defective or even if you just don't like it, to WalMart. I bought a set of Goodyear tires from WalMart a couple of years ago for my Mercedes station wagon. 2 years later, I got a nail in the left front tire. I had purchased WalMarts $9 extended road hazard guarantee, so I took it to my local WalMart and pointed out the nail to the service writer. "Hmm....that nail looks too close to the sidewall for me. Joe, put this man on a new tire, will ya." Joe could have simply plugged the hole and sent me on my way. Tire dealers would have. Not WalMart. I got a new tire.... Guess where I'm going for tires for the other car and truck when they need it. A set of Goodyears from WalMart was $280, with the extra warranty good forever until the tires are worn out. A similar set of Goodyears from the Goodyear dealer was over $500 and, if I'd blown the tire in Kansas for instance, I couldn't have gone into the local Walmart store to get it fixed or replaced in any town...... Speaking of Kansas...where's Skipper? Maybe you'd find him as a greeter at the Kansas Wal-Mart? |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
Are y'all trying to tell me that the 'rich' are taking all their tax savings
and shopping at Wal-Mart? Is this really what you're trying to get us dumb neo-cons to believe? Where did you come up with that?? Pretty weird, John. What I am trying to tell you, exactly, is in the body of what I wrote. To wit: It's the Puritan Work Ethic/ Depression mentality of our ancestors at work. Most Americans feel compelled to seek out the lowest price. Buying from a more socially responsible company that treats its employees fairly and isn't contributing to the great suburban homogenization of America sounds like a great idea......that somebody else should look into. We're all too busy saving $15 on a color TV to give a dang, personally. Are y'all trying to tell me that the 'rich' are taking all their tax savings and shopping at Wal-Mart? Is this really what you're trying to get us dumb neo-cons to believe? John On the 'Poco Loco' out of Deale, MD |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
|
OT--Wal-Mart Posts $2.44B in 2Q Earnings
You left out this part: "One retail theory is that when the economy is lousy,
EVERYONE shops downward one level. So, even if you prefer Lands' End t-shirts, you may settle for Fruit of the Loom, or whatever WM sells." Economists are saying that the tax cuts are having a positive effect on consumer spending. Wal-Mart is enjoying some of those fruits. The Libs (including you, I believe) have been criticizing the tax cut as being 'only for the rich'. Thus my question. Is it only the rich who are doing the spending at Wal-Mart? I was in a Wal-Mart just last week. It's still the worst, except for K-Mart, place to shop for anything. It is, however, much closer and more convenient than the other shopping areas. Also, the parking spaces are nice and big. If I were one of the 'rich' who were the 'sole beneficiaries of the tax cut', there is no way I would set foot in a Wal-Mart for anything. Most respectfully, John On the 'Poco Loco' out of Deale, MD The tax cuts aren't "only" for the rich, just highly biased toward the rich. Bush's people are smart enough to know that an average guy needs a pittance in savings too, or else the populace would be less willing to turn a blind eye to a national debt that was climbing, just this week, at the rate of over $1,000,000,000.00 a day. Take that $1 billion a day, and divide it up by 250mm folks. About $4 a day apiece, or $480 a month for a family of four. Hope your tax cut is at least $6k a year, John- because if it isn't and if you've got a family of four you're getting hosed the difference. Oh, and by the way, the guy whose tax cut is $6mm a year? His per capita share of the out of control national debtbacle is the same as yours. But, if the government trickles a few bucks down on John Q Public, John Q will be too busy buying Chinese Junks at WalMart to pay any real attention. Bread and circuses. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
|
OT--Wal-Mart Posts $2.44B in 2Q Earnings
|
OT--Wal-Mart Posts $2.44B in 2Q Earnings
On Thu, 14 Aug 2003 19:09:03 -0400, Gene Kearns wrote:
Almost all snipped However, what sort of ass would gleefully watch American families and interests be hurt just for political expediency? But the question above caught my eye. The answer is: Democrat/liberal asses who want to regain/develop power. The same ones who decry the national debt but want more and more costly programs.The same ones who will now say that we need a platoon of guards, preferably civilian, at each power line pole in America. The same ones who say we need more security forces at our ports. The same ones who want to give every police/fire department in America all the money they can spend. The same ones who say, no matter what is done, that it's not enough. Respectfully, John On the 'Poco Loco' out of Deale, MD |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
Jim wrote:
"Harry Krause" wrote in message ... Jim wrote: And the source of your quotes and information is?,,,, "Harry Krause" wrote in message ... Jim wrote: Isn't it funny how the libs all of a sudden grow silent when positive economic news like this is reported (during GWB's Presidency)? What a coincidence! Perhaps a taste of reality is in order here, eh? Wal-Mart's second-quarter net income increased to $2.44 billion, or 56 cents a share, compared with $2.02 billion, or 45 cents a share, a year earlier. That result included four cents in earnings from discontinued operations, with a gain from the sale of its McLane grocery-wholesaling unit. Net income from continuing operations rose 15% to $2.3 billion, or 52 cents a share, from $2.0 billion, or 45 cents a share, the company said. The result was in line with estimates given last week when Wal-Mart reported July sales. Sales increased 11% to $62.6 billion, while same-store sales increased 3.2%. "Consumer spending remained sluggish for most of the second quarter, and Wal- Mart struggled to rid itself of bloated inventories, which had grown faster than sales during the previous quarter. Heavy markdowns pressured profits, and inventory at the close of the quarter was up 9% from year-ago levels - slightly less than sales, but greater than the company's longer-term goal for inventory to grow at less than half the rate of sales. Comparable-store inventories increased by a low-single-digit percentage, Wal-Mart said. "Despite the markdowns, Wal-Mart managed to shore up profits, CEO Scott said. The company reduced its rate of "shrinkage," or losses from stolen and damaged goods, and continued to reap new benefits from increased buying from cheaper manufacturers overseas. "In addition, food margins improved even as domestic comparable-food sales increased 7% to 9%. The company noted that sales of fresh food, particularly at its Sam's Club unit, have grown swiftly. Fresh food carries a higher-than- average margin at the company, noted Bill Dreher, an analyst at Deutsche Bank Securities Inc. in New York." Not that rosy a picture. John On the 'Poco Loco' out of Deale, MD The New York Stock Exchange news story based upon statements from Wal-Mart management and those who analyze Wal-Mart stock. -- * * * email sent to will *never* get to me. Post a link. Otherwise you, as usual, are full of it. Are you too lazy or too stupid to find the NYSE home page and check out Wal-Mart? Typical brain-dead Konservatrash..."if it doesn't have a URL, it doesn't exist." -- * * * email sent to will *never* get to me. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
JohnH wrote:
On Thu, 14 Aug 2003 19:09:03 -0400, Gene Kearns wrote: Almost all snipped However, what sort of ass would gleefully watch American families and interests be hurt just for political expediency? But the question above caught my eye. The answer is: Democrat/liberal asses who want to regain/develop power. The same ones who decry the national debt but want more and more costly programs. It is the ejaculate in the White House, a Konservative Republican, who is rat****ting (yes, I know) up the national debt. The same ones who say we need more security forces at our ports. Nah..why would we want to guard our ports? The same ones who want to give every police/fire department in America all the money they can spend. A bit of sour grapes there, John? The same ones who say, no matter what is done, that it's not enough. Isn't that the motto of the ejaculate in the White House? -- * * * email sent to will *never* get to me. |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
On Thu, 14 Aug 2003 19:39:50 -0400, Harry Krause
wrote: JohnH wrote: On Thu, 14 Aug 2003 19:09:03 -0400, Gene Kearns wrote: Almost all snipped However, what sort of ass would gleefully watch American families and interests be hurt just for political expediency? But the question above caught my eye. The answer is: Democrat/liberal asses who want to regain/develop power. The same ones who decry the national debt but want more and more costly programs. It is the ejaculate in the White House, a Konservative Republican, who is rat****ting (yes, I know) up the national debt. The same ones who say we need more security forces at our ports. Nah..why would we want to guard our ports? The same ones who want to give every police/fire department in America all the money they can spend. A bit of sour grapes there, John? The same ones who say, no matter what is done, that it's not enough. Isn't that the motto of the ejaculate in the White House? Harry, your comments are too off the wall for comment. Notice, however, that I didn't call you any names! With utmost (snicker) respect, John On the 'Poco Loco' out of Deale, MD |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"Gene Kearns" wrote in message ... On Thu, 14 Aug 2003 01:38:20 GMT, "Jim" wrote: "Gene Kearns" wrote in message .. . So show me where I am viewing life with rose colored glasses Eugene. Please provide some facts showing the economy is on a decline. First of all, the "facts" that you offer are figures released by coneheads employed by the current administration to put a "spin" on the current situation. Every administration does this... they have a product to sell to the American public... themselves..... and they hire the most competent spinmeister's they can hire. Offering some Washington bureaucrat's figures as "fact" is, at the very least, extremely naive. The best "facts" I can offer is that every day I open the newspapers I see more plants going out of business and laying off workers. Just off of vacation, the first newspaper I see proclaims that a local company has closed sixteen plants and layed off thousands of workers/taxpayers. Since you are so local and have you eye out for statistics...... check this out.... http://www.news14charlotte.com/conte...es/?ArID=38346 ...how many of those people found jobs? Remember there were only enough jobs to go around for 1 out of every 4 people..... that means 3 out of four families will have to go hungry or go on some form of assistance. And notice..... this is in your back yard. Wonder what those people think of the Gov. statistics? I just helped put sixty highly qualified mechanics on the street.... prepared for jobs that don't exist in the current economy. About 85% of the class is keeping their "student" job, tending bar, working at the carwash, tossing packages, etc., because a bird in the hand is worth more than a highly paid technical job somewhere out there in the bushes.... Most states (NC certainly not the exception) have taken such a hard hit with out of work people, falling inventories, and business unable to sell their goods and services (WM is not the only business, you know) that they are having to cut back on necessary services. Their response is to raise taxes.... see that in Charlotte, yet? Wonder why? Can you find the vicious circle in this picture? As you (should) know the current state of the economy, especially when considering the forecast state of affairs, The point you so conveniently ignore is that these are "forecast state of affairs" NOT reality. Show me performance.... don't make me promises. If this isn't "form over substance," I don't know what is. is about the worst the libs (come on Eugene, admit you are one) If it soothes you, feel free to classify me in any way that lends comfort in you binary world. If pigeon holing me as a "lib" (whatever that means to you) helps you sort out and order your world... feel free... Most people, even color blind ones, see in shades of gray, but if that doesn't work for you..... feel free to talk in terms of white hats and black hats...... Problem is, people like Hopalong Cassidy, who wore a black hat...... I forget, "was he a bad guy, too?" could imagine....Improved retail sales, drastic gains in the stock market (DJ and Nasdaq), increased productivity, lower unemployment, rock bottom interest rates...the list goes on. I strongly suggest a little book I had to read many, many years ago in college. It was entitled, "How to Lie With Statistics." It is a quick read and might make you a little more critical and savvy about taking all of those "rates" at face value. I find a little bit of irony in your offer of "rock bottom interest rates" as a sign of a strong (or recovering) economy.... And the economy is only expected to improve in the coming months. I Certainly hope it does, but I don't see any quick fix for this dire situation. A libs nightmare when a Republican is President! Right Gene? No, I don't think so. I would hope that people of any political persuasion would see the current situation as truly BAD for America and Americans. True, a stunning turn around would bode well for the current administration and the Republican party, in general. However, what sort of ass would gleefully watch American families and interests be hurt just for political expediency? On the other hand, would you be pleased to see this sort of economic turmoil during a "liberal" or Democratic administration just to prove that the "conservatives" and Republicans were right? Would you feel the moral imperative to teach these people an ideological lesson? Would you feel justified? Satisfied? While we are on the question of questions...... you have posted next to nothing relating to boating. Where do you boat? What kind of boat do you have? Have any recent boating experiences to share?? Excellent post Gene, thanks for taking the time to explain things from an objective perspective (homage to Jesse Jackson). |
OT--Wal-Mart Posts $2.44B in 2Q Earnings
"jps" wrote in message ... "NOYB" wrote in message ink.net... That's why the new section 179 limit will have such an immediate impact on the economy. It's brings future purchases into the here and now. You said small business at Wallymart. Small business doesn't normally spend more than $25K a year. Medium size $50mm/yr. and up sized businesses are in a much better position to take advantage of the increased section 179 but that ain't gonna be spent at Wallymart. You're nuts. My business's capital expenditures have been averaging approximately 4% of gross sales the last 4 years. Any business doing 3/4 of a million and up could protentially benefit from the new increased limit. My bet is Sam's Club sold washers, dryers, refrigerators, air conditioners, and little do dads that mom and pop were getting with their child tax credits. When the money is gone, so will the spike in business. |
| All times are GMT +1. The time now is 05:58 AM. |
|
Powered by vBulletin® Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.
Copyright ©2004 - 2014 BoatBanter.com