Wal Mart CEO: ‘Shoppers Are Running Out Of Money’

“Wal-Mart’s core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried. We’re seeing core consumers under a lot of pressure. There’s no doubt that rising fuel prices are having an impact.┬áPurchases are really dropping off by the end of the month even more than last year. This end-of-month [purchases] cycle is growing to be a concern.”

Wal Mart CEO Mike Duke quoted in Money via zero hedge

Wal-Mart has struggled with seven straight quarters of sales declines in its stores.

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