BRIEF-Wal-Mart's Simon says US job rebound not lifting receipts

July 7 Mon Jul 7, 2014 6:53pm EDT

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July 7 (Reuters) - In an interview with Reuters on Monday, Bill Simon, the president and chief executive officer of Walmart U.S., said:

* That the hiring rebound reported by the U.S. Labor Department is not translating into increased customer spending in Wal-Mart stores;

* That the U.S. economy is 'not getting any better or worse' for Wal-Mart's core customers;

* And that the response by Wal-Mart's core customers to the 'difficult' economic environment is 'not the best thing in the world for a retailer.' Further company coverage: (Reporting by James B. Kelleher in Bentonville, Arkansas; Editing by Chris Reese)

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Comments (1)
AZWarrior wrote:
Perhaps instead of patting ourselves on the back over the illusionary U3, we should use U6 which provides a more realistic assessment of actual unemployment. Of course, if you are a failed Administration with no core competencies in governing, a distortion of reality is preferable.

Jul 07, 2014 7:27pm EDT  --  Report as abuse
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