Doubling sales in any category within a four year time span would be an audacious goal for any retailer, but that was the objective Walmart set for itself in the beer category last fall, according to Bloomberg.
There is a euphoria surrounding Amazon and the moves the company is making these days that is reminiscent of the phase Walmart went through in earlier decades when it was viewed as the ascendant growth company that could do no wrong. Supercenter expansion was rampant and Walmart was viewed as the company that was going to dominate everything it touched.
With rising expectations that Walmart’s sales for the recently ended second quarter will be weak when it reports on August 15, the company once again has naysayers doubting its growth prospects with some questioning its long-term viability.
Surging home prices and 401K balances have millions of Americans feeling better about their personal balance sheets and the state of the economy, but Walmart’s core shoppers remain under duress and that could spell trouble for second quarter sales.