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Walmart’s sales are down: What does that say about the economy?

For the first time in quite a long time, things may not be looking too great for our favorite mega retailer, Walmart. NBC News reports that Walmart has experienced a decrease in sales as well as a “cautious outlook for the rest of the year.” This was a big surprise to many.

Walmart’s Weird Excuses

Slate.com explores Walmart’s quarterly earnings report in depth. After the retailer reported a 1.4 percent quarterly decline, it released a statement containing a set of seemingly bizarre excuses:

“Wal-Mart blamed this drop on essentially everything under the sun except people not wanting to shop at their stores: “A delay in income tax refund checks, challenging weather conditions, less grocery inflation than expected, and the payroll tax increase” were all said to have created “considerable headwinds” for America’s No. 1 retailer.”

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