MT Insider: CEO of Sam's Club Says Government Furlough Impacting Retailers

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Sam's Club CEO Rosalind Brewer said that retailers are seeing some sales softness due to the furlough of federal government employees. Moreover, even before the shutdown some locations saw a slowdown over the weekend, which initially started in the Washington DC & Virginia areas. While key competitor Costco ( COST ) has not released a statement, the company is likely to be negatively impacted, as well.

According to Brewer, "what we're really concerned about right now is what's happening with the furloughs. We're actually seeing a little bit of softness from the government layoffs...In a few clubs it was significant."

Walmart ( WMT ), the parent company of Sam's Club, does not release individual financial data for the division, other than year over year performance.

WMT 73.01 -0.15 -0.20

COST 113.50 -0.92 -0.80



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This article appears in: Investing , Commodities

Referenced Stocks: COST , WMT

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