Considering the downturn in the economy, forget about building more superstores until conditions are more favorable?Sorry David. Your understanding of economics is about as shallow as it is of water.
The Tacoma News-Tribune recently reported that:
Now, looking at an almost 20 percent rise in company stock since last year, [Wal-Mart] shareholders have much to cheer about.What better time could there be to build a Wal-Mart Supercenter in Pullman than when food prices are skyrocketing? It is a proven fact that the opening of a Wal-Mart Supercenter saves the average family considerably on food expenditures, not just from shopping at Wal-Mart but also by forcing other grocery stores to lower their prices as well. When budgets are squeezed, even the leftists will swallow their ideology and go strolling down the aisles of Satan's Big Box of Horrors.
Shares, which had been in the doldrums for several years, are now trading close to the top of the company’s 52-week range after Wal-Mart refined the “save money, live better” campaign, begun last year, as the economy hit the brakes.
Wal-Mart has benefited as Americans, squeezed by higher gasoline and food costs, tighter credit and a slumping housing market, try to shop at cheaper stores. The company, which had been bruised by unrelenting attacks by union-backed groups, has seen criticism diminish.
And the old canard of just drive over to Moscow to Wal-Mart and Winco just doesn't hold water when gas is $4.30 a gallon.
Who the economic downturn is bad for is unreflective people blindly supporting Target, like Chris Lupke. The more upscale Target's sales are down and its stock had dropped 17% since September to trade near the 52-week low.