Sales in early Feb. were the worst the retailer had seen for any month in at least 7 years, and followed a terrible Jan., according to internal emails obtained by Bloomberg News. In a Feb. 12 email to other execs, Wal-Mart (WMT) VP Jerry Murray called this month's sales "a total disaster," the worst he had seen in his 7 years. In another email, a different exec wondered, "Where are all the customers? And where's their money?" after a disappointing Jan. This year's hike in payroll taxes could hurt discounters. Wal-Mart shares fell 2.2%.
America has no tolerance for wealthy people griping about their financial woes. But they have concerns too.