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Wal-Mart and eBay Agree: This Christmas Will Stink

Posted Oct 22, 2009 10:01am EDT by Vincent Fernando in Investing, Recession
Related: ebay, amzn, wmt, cost, tgt
From The Business Insider, Oct. 22, 2009:

We're not seeing good noise on the Christmas front lately.

A gloomier than expected outlook hit Walmart (WMT) hard yesterday afternoon while eBay is currently down after reporting.

Bloomberg: Walmart plans to reduce prices as the season advances in areas including home, food and gifts, Fleming told analysts today at a conference in Rogers, Arkansas.

Consumers’ wallets "are challenged," Fleming said. The holiday season "is going to be tough, it is going to be late."

eBay reported sales growth, but may have disappointed investors with a less than confident outlook for the holiday season.

Reuters: "The economy we see stable, and we're cautiously optimistic about consumer spending going into the holiday," said Chief Executive John Donahoe. "What is more important from our standpoint is we actually see some progress on our turnaround metrics."

It will be interesting to see what kind of outlook Amazon provides later today.


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