OnePercenter
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- Apr 10, 2013
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NEW YORK, Jan 31 (Reuters) - Wal-Mart Stores Inc Friday cut its quarterly profit outlook because of a host of issues, including reduced food stamp benefits and the restructuring of Sam's Club's in the United States and the closing of stores in Brazil and China.
"Wal-Mart caters to lower-income consumers which have been hit disproportionately hard," said Morningstar analyst Ken Perkins.
About 20 percent of the company's shoppers are food stamp recipients, analysts have estimated.
Wal-Mart outlook hit by store closings, food stamp cuts - Yahoo Finance
A large group of Walmart employees are on food stamps because their pay is so low, and this model Republican company is also hurt by food stamp cuts meant to cause their customers to starve to death? What kind of business plan is that?