Previously exuberant Walmart is getting a little worried about the economy, according to CNNMoney.
“No one has a crystal ball to look into the economic future, but we know the economy will be a critical factor this year,” Wal-Mart CEO Lee Scott said in a recorded call discussing the retailer’s results…”Some customers were a little more cautious about their spending in January,” Scott said. “That is why we will continue to be diligent in improving our business in every way.”
This non-statement is quite a change from the previously excited predictions Lee Scott shared before the Holidays:
“I feel we are well positioned for an economic downturn,” Scott said. “Our low prices and low-cost business model should give us an advantage over other retailers if things get more difficult for consumers.”