WALMART’S EXCUSE FOR PROFIT DROP A “FAIRYTALE”

FOR IMMEDIATE RELEASE

DATE: October 14, 2015

CONTACT: Jess Levin, 202-466-1576, jlevin@ufcw.org

 

Washington, DC — “Making Change at Walmart (MCAW),” the national campaign to change Walmart, released the following statement responding to news that the company announced it was predicting a drop in annual profit – an announcement that led to shares of Walmart dropping to their lowest point in three years.

“Walmart should be ashamed for trying to blame its failures on the so-called wage increases. The truth is that hard-working Walmart employees all across the country began seeing their hours cut soon after the new wages were announced. The idea that this truly drove down Walmart’s profits is a fairytale,” said Jess Levin, communications director for MCAW. “The reality is that customers want a Walmart to reflect their values, and until that changes they will continue to struggle. It is time for Walmart and other retailers to wake up and hear the change the American people and their customers want.”

MCAW released two ads yesterday that highlighted the struggles that many Walmart and retail workers face every day. Those ads, “Replaceable” and “Real Change,” debuted during the Democratic debate Tuesday night and will continue to run nationally throughout the week.