More recession fodder: Wal-Mart is reporting awful January results. Same store sales rose just .5%, well under the modest 2% that WMT had already predicted.
So: Do you find solace in the company’s explanation that sales were down because there was bad weather in the Midwest? Or are you terrified of the company’s explanation that sales were down because consumers were using their gift cards to buy food instead of electronics, toys, etc?
If you gravitate toward the first answer, it may be because you work at a big media conglomerate. If the latter take sounds more accurate, perhaps you’re employed (for now) by a big newspaper company.
McClatchy: Another Reeling Newspaper
Gannett Q4 Profits Plummet
NYT: Dec and Jan Advertising Tanks; Recession Has Begun
No Recession At NBC This Week
News Corp.: We Don’t See A Recession, Either
Disney Q1: No Recession Here
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