Both Walmart and Home Depot disappointed the stock market with their lower-than-expected earnings, and their failures are freaking everyone out. From the NYT:
“Many customers are running out of money at the end of the month,” said H. Lee Scott Jr., the chief executive of Wal-Mart.
He also blamed Walmart’s “poor clothing and home d
cor products.” (Insert Nazi T-Shirt joke here.) “Li’l Franky” over at Home Depot took a more subtle approach, blaming poor sales on a “tough selling environment.”
“The housing market remains difficult, and our performance reflects that,” said Mr. Blake,