WAL - MART Internal Email: 'February Sales Total Disaster, Worst Start To Month In 7 years'Submitted by emalvini on Fri, 02/15/2013 - 16:46
WAL - MART Internal Email: 'February Sales Total Disaster, Worst Start To Month In 7 years'
By Renee Dudley
Feb 15, 2013 11:16 AM PT
Wal-Mart Stores Inc. had the worst sales start to a month in seven years as payroll-tax increases hit shoppers already battling a slow economy, according to internal e-mails obtained by Bloomberg News.
“In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, Wal- Mart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. “The worst start to a month I have seen in my ~7 years with the company.”
The world’s largest retailer’s struggles come after executives expected a strong start to February because of the Super Bowl, milder weather and paycheck cycles, according to the minutes of a Feb. 1 officers meeting Bloomberg obtained