Bloomberg got its hands on some internal emails exchanged by Walmart (WMT) executives discussing recent sales figures, and they don’t paint a rosy picture.
“February MTD [month-to-date] sales are a total disaster,” said Walmart vice president of finance and logistics Jerry Murray in Feb. 12 e-mail to other executives. “The worst start to a month I have seen in my ~7 years with the company.”
Internal memos like this are nothing new in the corporate world. They are in a twisted way a call to arms to address the situation which is more about executive bonuses than the financial health of the company. Since lackluster sales means no quarterly bonus, all this angst over sales is the whining of executives afraid they won’t make bonus.
Unfortunately, this vetching had unfortunate consequences. When this memo leaked out, sales of Walmart shares dove 3%.
So is Walmart doomed to depressed sales? Continue reading