BLOOMBERG — With new payroll tax increases hitting many Americans at the start of 2013, the world’s largest retailer saw its February sales start slow and remain there – the slowest month of sales in over seven years.
Cameron Geiger with Wal-Mart U.S. Replsnishment 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?”.
For someone making $40,000 a year, the new payroll tax hike that just went into effect takes another $15 a week from the paycheck. To many, that hurts – and apparently Wal-Mart is, in part, blaming that on the slowest February sales month it’s seen in quite a while.