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Wal-Mart executives sweat slow start to February sales

Posted: February 15, 2013 at 1:48 p.m.

Wal-Mart Stores Inc. had the worst sales start to a month in seven years as payroll-tax increases hit shoppers already battling a slow economy, according to internal e-mails obtained by Bloomberg News.

“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.”

Wal-Mart and discounters such as Family Dollar Stores Inc. are bracing for a rise in the payroll tax to take a bigger bite from the paychecks of shoppers already dealing with elevated unemployment. The world’s largest retailer’s struggles come after executives expected a strong start to February because of the Super Bowl, milder weather and paycheck cycles, according to the minutes of a Feb. 1 officers meeting Bloomberg obtained.

Murray’s comments about February sales follow disappointing results from January, a month that Cameron Geiger, senior vice president of Wal-Mart U.S. Replenishment, said he was relieved to see end, according to a separate internal e-mail obtained by Bloomberg News.

“As with any organization, we often see internal communications that are not entirely accurate, that lack the proper context and represent individual opinions,” David Tovar, a Wal-Mart spokesman, said in an interview, adding that the company will report fourth-quarter earnings Feb. 21. Wal-Mart’s fourth quarter ends in January.

Murray and Geiger didn’t immediately return telephone and e-mail messages seeking comment.

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Welcome to Obama's world you Democrat fools. You reap what you sow.

Posted by: JailBird

February 15, 2013 at 4:54 p.m. ( | suggest removal )

You're a parody of the Thanks Obama meme, which is itself a parody.

Posted by: mcs

February 15, 2013 at 8:26 p.m. ( | suggest removal )

Are you a Democrat fool?

Posted by: JailBird

February 15, 2013 at 9:01 p.m. ( | suggest removal )