Internal Walmart Email: ‘Sales Are a Total Disaster’
An internal email from Walmart Vice President Jerry Murray said February “sales are a total disaster” and mark the worst sales start of any month in seven years.
“In case you haven’t seen a sales report these days, February (month-to-date) sales are a total disaster,” wrote Murray in a February 12 email to executives. “The worst start to a month I have seen in my (about) 7 years with the company.”
The recent hike in payroll taxes is dragging down sales for discount retailers like Wal-Mart. With less disposable cash in their wallets, lower-income shoppers have less to spend.
The bad news comes on the heels of a lackluster January for the major retailer.