Many big-box retailers, including Best Buy (BBY), Target (TGT), and Costco (COST), are struggling as the recession beats down their same-store sales. General retailers such as Sears (SHLD) are not faring any better. That means that the layoffs in the retail industry, which have already been extensive, are likely to continue, especially if the 2009 holiday season is weak.
Wal-Mart (WMT) is at the other end of the spectrum, by itself. The world’s largest retailer says it will add 22,000 jobs at its U.S. stores this year. That is down slightly from 2008, but in an economy that is forcing hundreds of thousands of people out of work each month, it is extremely impressive.
Between employing people and making it possible for them to purchase things they need–both during a recession/depression/panic–Wal-Mart is doing far more to help the common man than all the politicians and bureaucrats combined.
