Why Walmart Looks Good To Investors On The First Of Every Month
"At the stroke of midnight, a growing number of Americans are lining up at Walmart not to cash in on a holiday sale, but because they’re hungry.
The increasing number of Americans relying on food stamps to survive the sluggish economic recovery has changed the way the largest retailer in the United States does business.
Carol Johnston, Walmart’s senior vice president of store development, said that store managers have seen an “enormous spike” in the number of consumers shopping at midnight on the first of the month. That’s typically when those receiving federal food assistance have their accounts refilled each month.
We’ll bring in more staff to stock. We’ll also make sure all of our registers…are open…Some people may think at 12:01, Walmart’s very quiet, but in a lot of our areas of the country, 12:01 is a big day or a big night for us, actually,” Johnston said.
Becca Reeder and her husband, T.J. Fowler, are one of the families shopping before the sun rises.
When NBC News visited their home six days before the first of the month, they had no milk in their refrigerator. Among the few things left were water, bacon grease for the dog’s food, a little bit of apple juice, cheese and tortillas."
Congratulations to Walmart - exploiting misery at both ends of the retail business.