With Yelm City Hall now so dependent on reading Wal-Mart’s tea-leaves for the city’s sales and tax revenues, with Wal-Mart now sneezing, will Yelm catch a cold?
– Wal-Mart’s lackluster results cause “lingering worries about the Economy”
“WALL STREET: A three-day rally ran out of steam on Wall Street as oil prices shed recent gains and Wal-Mart, the first major retailer to report results, had disappointing sales,” quoting Yuri Kageyama, AP Business Writer, February 18, 2016.
– “Hope Dims for Wal-Mart’s Effort to Ignite Growth”
“In cutting sales forecast, retailer cites recently announced store closures, stronger U.S. dollar”
“Wal-Mart Stores Inc. on Thursday [Feb. 18, 2016] cut a sales forecast made four months ago, surprising investors again and dimming hopes that heavy spending on upgrading its stores, e-commerce operations and wages will bring quick growth,” quoting Sarah Nassauer and Chelsey Dulaney, Wall Street Journal.
– From last month: “Walmart is closing 269 stores and laying off thousands of employees.”
“The move will affect more than 16,000 employees, including 10,000 in the US.
The closings include 154 locations in the US — 102 of which are the company’s smallest stores, called Walmart Express, which have been in pilot since 2011,” quoting Hayley Peterson, Business Insider.