I was right!
16.57.00 - Mark
I've had this theory (end of first paragraph) that once gas prices are high enough, Walmart, everyone's favorite
evil superpower superstore will collapse.
Well I'm right!
Walmart posted its earnings as well as some warnings for the rest of the year. They still made money, but they missed estimates, and - they're blaming it on gas prices.
From CNN Money
"A case in point is Wal-Mart, which rattled Wall Street Thursday. The retailer reported higher profits but the numbers missed Wall Street forecasts, and it warned about the rest of the year, blaming higher gas prices and weather.
Wal-Mart executives have repeatedly warned that higher gas prices weigh more on its customers, most of who live paycheck to paycheck."
Analysts say its probably more than that, like the painfully long lines during The Walmart Social Hour (which is 21 hours long and ends long enough for the illegal aliens to restock the shelves from 11:00 to 2:00), what appears to be corrupt internal structuring, and the lack of quality and/or popular products, like the iPods they supposedly stock but don't (although you're more than welcome to try and buy the overpriced ipod accessories that they do).
What I would do to have a Target, or maybe a Costco within 20 minutes of here