Leaked Wal-Mart Emails Warn of February Sales as Total Disaster
LOS ANGELES (LALATE) – Leaked Wal-Mart emails Friday warned of a February “total disaster”. But the emails hurt Wal-Mart’s stock during Friday’s trading as well. The emails were written by Jerry Murray and Cameron Geiger.
The leaked Wal-Mart (NYSE:WMT) emails called February a “total disaster” in retail sales. The first email was purportedly written by Jerry Murray, Wal-Mart’s vice president of finance and logistics and was dated February 12, 2013. It reads “In case you haven’t seen a sales report these days, February MTD (month-to-date) sales are a total disaster. The worst start to a month I have seen in my seven years with the company.” Murray claims that a payroll-tax increase allegedly hurt consumer spending.
Wal-Mart Friday tried to react to the bad public relations as its stock fell Friday 2.2% to $69.30. Wal-Mart spokesman said, “As with any organization, we often see internal communications that are not entirely accurate, that lack the proper context and represent individual opinions.”
Another leaked email from February 1 was obtained by Bloomberg. Cameron Geiger, senior vice president of Wal-Mart U.S. Replenishment, wrote “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 Wal-Mart U.S. Where are all the customers? And where’s their money?”
Walmart
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