Leaked Walmart emails that were obtained by Bloomberg News revealed that executives from the retail giant are concerned about the increase in payroll taxes and a delay in tax returns. The leaked Walmart emails also showed that the company had the worst sales start to a month in seven years. According to Bloomberg on Feb. 16, Jerry Murray, Walmart’s vice president of finance and logistics, gave the following statement in a recent email to other executives.
"In case you haven’t seen a sales report these days, February MTD sales are a total disaster.”
Following the release of the leaked Walmart emails, Walmart shares drastically fell on Friday after word got out that the executive said February sales were a "total disaster."
Some analysts believe that the spike in payroll taxes could be problematic for Walmart because the company usually tends to cater to low income shoppers with less disposable income.
Walmart is scheduled to report their earnings during the fourth-quarter on Feb. 21. Analysts are expecting earnings of $1.57 a share on revenue of $128.92 billion.