America’s wealthiest families smash income ceiling, middle-class left far behind

[Uncensored2008]

You don't have the education to debate me.

That's true - nothing beyond a second grade education would make debate with you a reasonable proposition.

You are an ignorant fraud.

 

[Redfish]

face it libs and dems, this happened under obama. Obama has made the rich richer and the poor poorer.

 

[Uncensored2008]

Grocery stores have a very small profit margin.
Low single digits.

Shockingly low. I did a case study on Vons while getting my MBA, how these union stores stay in business is amazing. One store studied had a gross margin of less than 1% total. Even older high margin items like wine and beer are now sold with razor thin margins.

 

[Toddsterpatriot]

Not at all. That's typical for the grocery business. They go through a lot of inventory every single day.

Wrong. Grocery stores have a one to three hundred percent markup.

Grocery stores have a very small profit margin.
Low single digits.

Wrong. Grocery stores have a multitiered profit. Procurement, logistics, transportation, stores, each buying the product and marking it up each time.

Grocery stores have a very small profit margin.
Low single digits.

Wrong. Grocery stores have a multitiered profit.

I don't care how you divide it up, their profit is very small.
Safeway, for instance, had $36.1 billion in sales, income before tax, $336 million.
Less than 1% profit.
Kroger, $98.4 billion in sales, income before tax, $2.28 billion.
A bit over 2.3% profit.

 

[RKMBrown]

Grocery stores have a very small profit margin.
Low single digits.

Shockingly low. I did a case study on Vons while getting my MBA, how these union stores stay in business is amazing. One store studied had a gross margin of less than 1% total. Even older high margin items like wine and beer are now sold with razor thin margins.

It's pretty easy to make money on low margin. All you have to do is adjust prices up or down based on cost of goods, payroll, and other expenses. The profit is kept low on food in some states because that's the law. I believe florida regulates profit to 1.5% for food. The stores make their profit wins on health & beauty aids, hardware, electronics, toys, garden supplies etc.

 

[Uncensored2008]

It's pretty easy to make money on low margin. All you have to do is adjust prices up or down based on cost of goods, payroll, and other expenses. The profit is kept low on food in some states because that's the law. I believe florida regulates profit to 1.5% for food. The stores make their profit wins on health & beauty aids, hardware, electronics, toys, garden supplies etc.

Gross margin and profit are distinctly different propositions. No state has the legal right to dictate profit margins, not Florida, not the Peoples Republic of California, Margins are low because competition for non-union stores like Walmart and Winco puts pressure on these stores through lower prices. Granted that in food stores, labor is a lower cost, most of the cost is in material. Even so, the labor cost of union stores is much higher than in the competition. This contributes to low margins.

 

[hortysir]

Good for them

 

[RKMBrown]

It's pretty easy to make money on low margin. All you have to do is adjust prices up or down based on cost of goods, payroll, and other expenses. The profit is kept low on food in some states because that's the law. I believe florida regulates profit to 1.5% for food. The stores make their profit wins on health & beauty aids, hardware, electronics, toys, garden supplies etc.

Gross margin and profit are distinctly different propositions. No state has the legal right to dictate profit margins, not Florida, not the Peoples Republic of California, Margins are low because competition for non-union stores like Walmart and Winco puts pressure on these stores through lower prices. Granted that in food stores, labor is a lower cost, most of the cost is in material. Even so, the labor cost of union stores is much higher than in the competition. This contributes to low margins.

Thx. My bad, I mixed, in my head, the price gouging laws that set margin limits with margin limits based on competitive pricing.

 

[bripat9643]

Not at all. That's typical for the grocery business. They go through a lot of inventory every single day.

Wrong. Grocery stores have a one to three hundred percent markup.

Grocery stores have a very small profit margin.
Low single digits.

Wrong. Grocery stores have a multitiered profit. Procurement, logistics, transportation, stores, each buying the product and marking it up each time.

Grocery stores have a very small profit margin.
Low single digits.

Wrong. Grocery stores have a multitiered profit.

I don't care how you divide it up, their profit is very small.
Safeway, for instance, had $36.1 billion in sales, income before tax, $336 million.
Less than 1% profit.
Kroger, $98.4 billion in sales, income before tax, $2.28 billion.
A bit over 2.3% profit.

Both those incomes are in the low single digits, so he wasn't wrong.

 

[bripat9643]

Grocery stores have a very small profit margin.
Low single digits.

Shockingly low. I did a case study on Vons while getting my MBA, how these union stores stay in business is amazing. One store studied had a gross margin of less than 1% total. Even older high margin items like wine and beer are now sold with razor thin margins.

It's pretty easy to make money on low margin. All you have to do is adjust prices up or down based on cost of goods, payroll, and other expenses. The profit is kept low on food in some states because that's the law. I believe florida regulates profit to 1.5% for food. The stores make their profit wins on health & beauty aids, hardware, electronics, toys, garden supplies etc.

I know they don't regulate profit, and I doubt the regulate margin. The could easily set it at a rate that would cause the store to go bankrupt.

 

[OnePercenter]

Shockingly low. I did a case study on Vons while getting my MBA, how these union stores stay in business is amazing. One store studied had a gross margin of less than 1% total. Even older high margin items like wine and beer are now sold with razor thin margins.

So procurement, logistics, and transportation at Von's AREN'T separate companies?

 

[OnePercenter]

I don't care how you divide it up, their profit is very small.
Safeway, for instance, had $36.1 billion in sales, income before tax, $336 million.
Less than 1% profit.
Kroger, $98.4 billion in sales, income before tax, $2.28 billion.
A bit over 2.3% profit.

You should care.

 

[Toddsterpatriot]

I don't care how you divide it up, their profit is very small.
Safeway, for instance, had $36.1 billion in sales, income before tax, $336 million.
Less than 1% profit.
Kroger, $98.4 billion in sales, income before tax, $2.28 billion.
A bit over 2.3% profit.

You should care.

I care enough to mock your claim that they markup the food between 100% and 300%.

 

[OnePercenter]

I don't care how you divide it up, their profit is very small.
Safeway, for instance, had $36.1 billion in sales, income before tax, $336 million.
Less than 1% profit.
Kroger, $98.4 billion in sales, income before tax, $2.28 billion.
A bit over 2.3% profit.

You should care.

I care enough to mock your claim that they markup the food between 100% and 300%.

It is. How did Joe Albertson die a billionaire?

How do the Walmart 7 make one billion plus per year?

 

[bripat9643]

I don't care how you divide it up, their profit is very small.
Safeway, for instance, had $36.1 billion in sales, income before tax, $336 million.
Less than 1% profit.
Kroger, $98.4 billion in sales, income before tax, $2.28 billion.
A bit over 2.3% profit.

You should care.

I care enough to mock your claim that they markup the food between 100% and 300%.

It is. How did Joe Albertson die a billionaire?

How do the Walmart 7 make one billion plus per year?

Walmart brings down $400 billion in gross revenues every year, dumbshit.

That's how.

 

[Toddsterpatriot]

I don't care how you divide it up, their profit is very small.
Safeway, for instance, had $36.1 billion in sales, income before tax, $336 million.
Less than 1% profit.
Kroger, $98.4 billion in sales, income before tax, $2.28 billion.
A bit over 2.3% profit.

You should care.

I care enough to mock your claim that they markup the food between 100% and 300%.

It is. How did Joe Albertson die a billionaire?

How do the Walmart 7 make one billion plus per year?

I care enough to mock your claim that they markup the food between 100% and 300%.

It is.

LOL! Prove it.

How did Joe Albertson die a billionaire?

He ran a very successful business.

How do the Walmart 7 make one billion plus per year?

They own a big piece of a company that made $16 billion last year.

 

[OnePercenter]

Walmart brings down $400 billion in gross revenues every year, dumbshit.

That's how.

Oh, you idiot Canadian.

While the WalMart 7 receive a few hundred million from WalMart Stores Inc., the vast majority comes from procurement, logistics, and transportation which sell to each for a profit and are privately owned by the WalMart 7. Multitiered profits.

 

[OnePercenter]

I care enough to mock your claim that they markup the food between 100% and 300%.

It is.

LOL! Prove it.

How did Joe Albertson die a billionaire?

He ran a very successful business.

How do the Walmart 7 make one billion plus per year?

They own a big piece of a company that made $16 billion last year.

WOW! Sixteen Billion net from a company that has low profit margins? No wonder Walmart is the number one company paying workers the least.

One problem; Doesn't the yearly income of the Walmart 7 exceed $16 Billion?

 

[Toddsterpatriot]

I care enough to mock your claim that they markup the food between 100% and 300%.

It is.

LOL! Prove it.

How did Joe Albertson die a billionaire?

He ran a very successful business.

How do the Walmart 7 make one billion plus per year?

They own a big piece of a company that made $16 billion last year.

WOW! Sixteen Billion net from a company that has low profit margins? No wonder Walmart is the number one company paying workers the least.

One problem; Doesn't the yearly income of the Walmart 7 exceed $16 Billion?

WOW! Sixteen Billion net from a company that has low profit margins?

Yes.

Doesn't the yearly income of the Walmart 7 exceed $16 Billion?

Does it?

 

[bripat9643]

Walmart brings down $400 billion in gross revenues every year, dumbshit.

That's how.

Oh, you idiot Canadian.

While the WalMart 7 receive a few hundred million from WalMart Stores Inc., the vast majority comes from procurement, logistics, and transportation which sell to each for a profit and are privately owned by the WalMart 7. Multitiered profits.

Walmart prices are cheaper than any other chain, but you're telling us their profits are higher? What's wrong with this picture?

I know: you're an imbecile who doesn't have the foggiest notion of how the retail business works.