Wall Street Manna
An irreverent look at Wall Street
Thursday, February 18, 2010
Walmart beats estimates but misses on revenue
The consumer is dead!
Won't that be the second derivative story that we will hear now? Wait--doesn't the consumer make up 70% of GDP? What % of GDP did they make up in the last quarter?
Remember Sears/Kmart? That didn't have revenue growth but beat on the top line?
Remember the bears on Sears? Who shorted it on the 40s and 50s?
How did that work out?
So now they are left with picking on WMT for a point!
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