thats false.
and that is the net net, the gross net is lower showing that they increased the net net by cutting backend costs, not by increasing margins.
further, the gross margin on items is lower than the historical average which is a shade over 25% and is under 25% since 4thQ 22.
It was already pointed out in the thread that grocery profit margins are razor thin.
Toss in the current approach to shoplifting (stand back and donāt confront the thieves) and ā¦ it takes a HUGE grain of salt to see any credibility in the people making claims of price gouging or profiteering.
you do understand the concept of investors, stock, corporationsā¦ donāt you?
The bottom dollar amount is meaningless.
if Joeās Gro makes 200K, Joe is happy
If walmart makes 200K thereās a few million people and there 401Kās that arenāt going to be very happy.
But walmart does not make 200k. The bottom dollar is meaningful if itās in the millions and billions. The razor thin margin is exactly why they need multiple stores in an effort to make a meaninful profit.
Is 6% even true?
It was asserted earlier in the thread, and then simply adopted in the ensuing conversation.
Your question is a valid point ā assuming the profit margin is 6% and not 2%. Itās still not much.
so should walmart and target list there decreased profits as campaign donations to Biden?
Oh. Not 2%. Itās a whopping 2.2%.
Pirates, I tell you. Damned profiteers!
Still 2%.
These people do not understand capitalism and corporations.
Even basic math seems to elude them.
Since this is an obvious Campaign ploy being used by Biden to enhance his candidacy. Shouldnāt those corporations who lower their prices to comply with him list the cost to themselves as campaign contributions?
But think, if we could just get the stores to operate at no profit, prices will have only increased by 18% instead of 20% under Biden. Darn those gougers.
Cant read the article and have no desire to create an account.
But just seen Bidens tweet about tackling price gouging and I support that.
That is one messed up POV.
Profit is why they are in business.
Better to be outraged at the tech monopolies like Amazon google YouTube etc.
The Biden administration brought on enormous inflation and now he wants to say āeverybody should lower their pricesā and he has now done his part. Itās all the fault of āgougersā.
Just a last minute political cop out for the election by the people in charge of Biden.
Who is saying stores cannot operate on a profit?
This default attitude that businesses can do no wrong is bizarre.
I get that many on here want zero restrictions on businesses and any type of regulation is communism so this is an argument will rage on.
I have no problem with a business making a profit but I do have a problem with a business making a profit by engaging in unethical or illegal practices.
Absolutely no evidence has been presented of gouging or that any such thing is responsible for the Biden inflation. Yet Biden supporters are ready to jump at the chance to switch blame, without evidence,
Thats a Valid argument. Not saying its not politically motivated. And of course he is going to spin it. Would any other President do it differently its what they do.
Bide will have to answer for inflation on election day and the voting will tell us what people think.
I do not think the increase in prices is just down to gouging but I think its valid to make sure that its not happening.
I think we can all agree if price gouging is happening it needs to stop.
I agree with you. I never said there is evidence which is why Biden is wanting to start the discussion. I would welcome this by any President.
Of course I know he is doing this now because its politically expedient but regardless of that I think making sure its not happening is a good thing.
