Over the weekend, we were listening to the radio up at the goat barn and I heard a piece on the news, lamenting about the current tariff battle between China and the USA... For YEARS, cheap imports from China have dominated some of the biggest retailers in America and we have long heard "Buy American Made"... A spokesperson for Walmarts said the company would now have to pass on the higher prices to its consumers...
HUH????...
Started in 1962, in the past 57 years, Walmarts has expanded from one store in Arkansas to over 11,000... You don't open new stores and expand an average of 192 stores a year without a massive amount of profit pouring into the coffers...
To quote revenuesand profits' website:
Of the $485.65 billion of Walmart total revenues in FY’15, $365.08 billion were the cost of sales. This resulted in $120.56 billion of gross profit and a gross margin of 24.83%. Operating, selling, and administration costs were $93.14 billion. This resulted in $27.15 billion of operating profit and an operating margin of 5.59%. After interest and other non-operating income and expenses and income taxes, Walmart had a net profit of $16.36 billion and a net margin of 3.37%.
Bottom line is --- that on the average, each Walmarts store is generating almost a MILLION AND A HALF of profit each year... Think about that... $1,487,272 in profit per store across the nation and the world if you average it out!... OMG!...
During this time, so many other retailers went out of business or are struggling to keep the small amount of stores they have opened... Sears, K-Marts, Target... Walk through the retail cemetery of stores we used to shop at and no longer can between the monopoly Walmarts and Amazon created...
Considering this company has built its power base these past 57 years, capitalizing on the cheap imports because of the inequity of the tariffs we Americans have been forced to pay, you would think that a major retailer like Walmarts could LOWER their profits, stop this major expansion and hold the line until the tariffs war becomes fairer to the U.S. consumer.
Instead, they are opting to pass on additional costs to us...
And wonder why the U.S. taxpayers and citizens are pissed off about the state of the world right now?????
