Wal-Mart CEO says his shoppers are running out of money

Oil prices are hammering the public and of course, the dollar is being destroyed on the global market these days which will make the problem worse. Is it asking for too much to have our political leadership implement policies that help the middle class as opposed to the continuing strategy that helps Wall Street? CNNMoney:

“We’re seeing core consumers under a lot of pressure,” Duke said at an event in New York. “There’s no doubt that rising fuel prices are having an impact.”

Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.

Lately, they’re “running out of money” at a faster clip, he said.

“Purchases are really dropping off by the end of the month even more than last year,” Duke said. “This end-of-month [purchases] cycle is growing to be a concern.


An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

Share This Post

© 2020 AMERICAblog Media, LLC. All rights reserved. · Entries RSS