Monday, April 19, 2010

Walmart--what to do, what to do

Brad Dorfman, Reuters, was waxing on about Walmart. He thinks they are in a weird position in what he calls “the new normal,” meaning this crap economy.

Some Walmart customers want to trade up to Kohl’s or Target, and some are heading for the dollar stores.

Both the up’s and down’s posted better revenues last month. Walmart wasn’t sayin’.

Walmart stock is up 3%, Target’s up 16%, if that tells you anything.

Target, he says, is destined to do pretty well—it’s discretionary, but not ultra-discretionary, meaning, I guess, you could choose it and get out alive financially.

We have a Walmart three blocks from us. We depend on it. They just dolled it up, but in the process, took out the garden center and the plants.

I liked those. They were nice. I didn’t care if they were down-channel, or however these analysts like to talk. There were plants, flowers, leaves—it smelled good in there.

Some days I used to go in the greenhouse and just breathe. Very soothing.

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