The president of Wal-Mart USA says consumer spending isn’t improving despite better jobs and economic data.
“It’s really hard to see in our business today … that it’s gotten any better,” Bill Simon, the president and chief executive officer of Wal-Mart U.S. told Reuters. “We’ve reached a point where it’s not getting any better but it’s not getting any worse – at least for the middle (class) and down.”
One in five Wal-Mart shoppers are on some type of social assistance and I imagine a big part of its workforce.
