Obama stamps? It really seems like corporate welfare for Steve Burd and his ilk as they are multi millionaires doing such a lousy job running this company. While all at the same time the taxpayers are making them rich.
Sentiment: Strong Sell
Your concern about "obamastamps" is comical to say the least. At the end of the day a clerk counts up their drawer, and food stamps go into the total just like greenbacks. So your concern has no merit. Remember, food stamps, WIC, welfare debit cards ring up the same as cash. Say it, you will feel better.
Safeway's prices are so high, and they have been moving out of lower income neighborhoods for decades. I do not think food stamp customers are a significant percentage of Safeway's business. I do not see cuts to that as much of a threat to Safeway.
Two key people have been retired for three months now....Steve Burd and Bruce Everette. Please catch up on these things before posting. It seems like all you want to do is rant and rave about the past, do some reading about current conditions, then post.
Losing Burd and Everette was no great loss. Both of them were too involved in micromanaging. Burd was all about cutting operating costs at the expense of "true" customer service. After nearly 40 years with this company I feel it will never be much more that a "two bit" ($25) stock. Burd's success was cutting costs of a very fat company a little each year. The past 8-10 years there was no more "juice" left to squeeze. It became evident he and his crew knew little of how to grow a company. The competition in this sector along with the way they are running the stores so lean prevents them from growing sales. Add to this the obvious lowering of the quality of meat and produce to keep prices lower. He told us he could make us all millionaires! lol
Better ask WMT as over 80% of Walmart shoppers use food stamps and ironically over 80% of Walmart employees on are on food stamps and government welfare, so that all US taxpayers are paying $12,000 to each Walmart employee whether or not they shop at Walmart.
It is the biggest irony that Walmart as the largest employer and corporation pays the lowest salaries, so that the biggest government welfare goes to the $100+ billion Sam Walton family.
Sentiment: Strong Buy