Thursday, February 18, 2010

The Wally World Whiff

Quoting in part from Karl Denninger:

"Hmmmm.... Sales by U.S. stores open at least a year fell 1.6 percent in the three months ended Jan. 31, the Bentonville, Arkansas- based company said today in a statement. Wal-Mart had projected sales to decline no more than 1 percent. The retailer reduced prices on laptop computers, along with turkeys and cranberry sauce for holiday meals, as job losses crimped demand.

"Price deflation is hurting sales" was one of the comments they made. Price deflation eh? I can confirm this is everywhere. Places that I don't expect to run sales at all are. Big. 2-for-1 (what is called "bogo" in the business, or "buy one get one"), 70% discounts and other similar schemes. The local Publix food retailer has, over the last couple of months, stepped up big with the discounting in what is pretty clearly an attempt to keep people in the stores."

Locally, I can confirm this is the case. Shoppped at three grocery's and one discount $ store within the last few days. Stocked up again because extra funds were available and bargains lined the aisles!

As usual, I advised a couple family members do likewise. Alas, my oldest son is "stocked up with Schwan's," my youngest son has just moved and "has no room for groceries right now," and my youngest sister just got a new job so she "won't be needing the food pantries anymore because I have a job and I can shop every week."

So much for my influence on any of them. One way or another they're all fine in la, la land and I'm the crazy kook living in no man's land.


Bellen said...

I'd much rather be the crazy kook - oh yeah, I am!!

Anonymous said...

Life is so much simpler when we know who we are.

LizBeth said...

The rest of us kooks know you are okay, sister!

Did it MY way said...

The ant and the grass hoppers. Stay your course Treesong. The old statement: you can lead a horse to water, but you can't make him drink.

Take care & God Bless.

See Ya

debbieo said...

ok this is off topic, but you did mention wallys. I learned of a site called people of walmart. check it out, too funny. said...

We got a taste of deflation yesterday when we paid $1.69 per pound for ground beef, 80%. Picked up 20 pounds and a new case of quart mason jars...just wish those jars would deflate in price too!