Walmart: Sales Down Because Of Food Stamp Cutbacks

Walmart’s customers depend on the government to purchase goods, and cuts to the food stamp program is hurting business.

Wal-Mart lowered its full-year profit more than analysts expected, as cut backs on food stamps, higher taxes and tighter credit for its customers eroded sales, Wal-Mart reported its fourth-quarter profit fell to $4.43 billion, or $1.36 a share, from $5.61 billion, or $1.67 a share, a year earlier.

By: Alan

Alan Colmes is the publisher of Liberaland.