Wal-Mart Responds to Internal Email Saying February Sales Were a Total Disaster
Posted on February 17, 2013Bloomberg reported Friday that they had obtained an internal email, sent by Jerry Murray, Wal-Mart's vice president of finance and logistics, that said Wal-Mart's February sale were a "total disaster."
Murray's email said, "In case you havenít seen a sales report these days, February MTD sales are a total disaster. The worst start to a month I have seen in my ~7 years with the company."
Wal-Mart's shares ended down over 2% on Friday because of concerns over the email cited by Bloomberg. If Wal-Mart is suffering from weak sales it could be a bad sign for the economy overall and not just Wal-Mart.
USA Today reports that Wal-Mart issued the following statement about the email: "As with any organization, we often see internal communications that are not entirely accurate, that lack the proper context and represent individual opinions."
Walmart appears to be saying the the "total disaster" comments are vice president Jerry Murray's opinion and that his opinion may not be entirely accurate. However, he is not only one at Wal-Mart to have concerns about sales.
The Chicago Tribune reports that Cameron Geiger, senior vice president of Wal-Mart U.S. Replenishment, sent an email about January sales that said, "Have you ever had one of those weeks where your best- prepared plans weren't good enough to accomplish everything you set out to do? Well, we just had one of those weeks here at Walmart U.S. Where are all the customers? And where's their money?"