The Juice: A Little Something Extra for your morning
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Singing the Big Box blues
We got some numbers from Wal-Mart and Home Depot this morning that say a lot about the U.S. economy. Wal-Mart turned in smaller-than-expected profits for the second quarter — and cut its profit forecast for the year. CEO Lee Scott blamed economic pressure on his customer base, saying it's no secret people are running out of money toward the end of each month. And Home Depot reported a 15 percent drop in quarterly profits. Just two words explain that one: housing market.
Posted on August 14, 2007 6:21 AM PT | Permalink
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