“Bloomberg is reporting on emails circulating among Wal-Mart executives calling February sales a “total disaster.”
The emails say February sales are off to the worst monthly start in seven years.
The executives attribute the dismal performance to the expiration of payroll tax cuts.
Bloomberg’s Renee Dudley reports:
“In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, Wal-Mart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. “The worst start to a month I have seen in my ~7 years with the company.”
…
“Have you ever had one of those weeks where your best-prepared plans weren’t good enough to accomplish everything you set out to do?” Geiger asked in a Feb. 1 e-mail to executives. “Well, we just had one of those weeks here at Walmart U.S. Where are all the customers? And where’s their money?”
The stock just tanked on the news and is now down more than 3 percent in intraday trading. Click on the chart below to enlarge the image.
Thinkorswim
Brian Sozzi, chief equities analyst at NBG Productions and a specialist in retail stocks, told Business Insider: …”
If you enjoy the content at iBankCoin, please follow us on Twitter
