Bloomberg has a stunning story out about Walmart’s dropping sales figures. In it, they cite leaked internal emails between company executives where they describe in plain language how bad sales are. The emails are only a few days old. Here are some quotes:
On February 12, Jerry Murray, Walmart’s vice president of finance and logistics, wrote:
“In case you haven’t seen a sales report these days, February MTD sales are a total disaster. The worst start to a month I have seen in my 7 years with the company… [since Wal-Mart is gaining market share steadily] that points to our competitive landscape, which means everyone is suffering and probably worse than we are.”
A few days earlier on February 1st, Cameron Geiger, senior vice president of Wal-Mart U.S. Replenishment wrote:
“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? Well, we just had one of those weeks here at Walmart U.S. Where are all the customers? And where’s their money?” Read More