In one hears the earnings transcript for Walmart. One gets a feeling that economy is not growing as the comparable sales from last year and have shown virtually no growth.
However when you start reading other earning transcripts like Whole Foods WFM, one gets a different opinion. Whole foods comparable stores are not only up, however there store count is also up and they are growing.
Amazon sales are significantly up from last year. Of course they don't have a comparable store as they are one big store.
What can be inferred is that 3 MM customers of whole Foods are doing much better, therefore they are buying more as compared to last year and some of the customers are migrating to Whole Foods stores. Therefore there is no growth in the produce section of WMT. Additionally TV sales is now happening more on the web. AMZN is grabbing the share of electronics from the stores of WMT.
The probable inference to blame the unemployment and the consumer financial weakness on lack of growth at Walmart (NYSE:WMT) is incorrect.