Right. But as I've shown, Prices are increasing. That's not speculation, its demonstrable. They are.
Prices rising far above inflation, when the company is in a more than healthy position already, and the extra profit goes to shareholders.
The Left calling out The Left for gaslighting people about crime
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Firstly: the figures you gave here are for gross profit, not revenue. They're the same figures as in my first link. Walmart's revenue was almost $650 billion for 2023 and ~610 for 2022.
But anyway: its not necessarily true that you'd expect profit margin to keep pace with profit if the company was price gouging. That assumes expenditure remains consistent as well.
But regardless: it's not disputable that prices are rising. Its a fact. Its also a fact that their profit is up by >10 billion over the last recorded 12 months. And its also a fact that they increased the payment to shareholders by >5 billion in the same period.
My bad, I had the right numbers, I typed in the wrong ones, I might be sick at the moment...
If both revenue and profit increase by the same percentage, expenditure also increased by the same percentage. Profit = Revenue - Expenditure.
Yes, you're describing inflation. Everything went up in dollars because the value of money went down. Yes, I know they went up a higher percentage than inflation for 2023, but a couple years ago inflation was almost 9% and their profits only increased 3%, which is to say their real profits actually decreased in that period, and the current increase is a natural correction back to the norm. None of this is evidence of price gouging.
Well no, because the absolute size of the starting figure also affects the percentage increase. Proportionality =/= the same percentage when the starting figure is hugely different-- unless you're aiming for perpetual exponential growth, which is absurd and unachievable.
"That's just inflation" -> "I know its above inflation". So its not, then.
Look, the fact of the matter is, when a company is making hundreds of billions of dollars in profit every year-- and ever-increasing billions of that are going to shareholders-- they can afford not to increase prices above inflation. They're choosing to do so. You know this.
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They are actually in a less healthy position as years ago (as shown by profits margins over ~15 year period). How are they NOW screwing over people but not in the past?
You didn't answer my previous basic logic questions:
There's tons of Walmarts in areas with other options. Let's just say 50% of Walmarts are in areas where they are like the only main grocery store and 50% are in areas where there's plenty of other options. Wouldn't Walmart then be doing worse overall assuming they're price gouging if people are then avoiding 50% of their stores? Or if Walmart is only price gouging in areas of dominance, wouldn't there be massive price differences in the 2 types of areas and obvious evidence of this? Prices raising doesn't mean price gouging.
The only way this actually makes logical sense is a massive conspiracy that every other retailer also has to be involved in.
I don't give a toss if their profit margin isn't increasing proportionally-- companies don't require perpetual or exponential growth, and aiming for it is absurd. They're still making hundreds of billions in profit. More and more of that profit is still going to shareholders, while prices rise above inflation.
How much does someone need to love the taste of boot leather, to see a company make 157 billion (157 BILLION!!) in profit alone, and send billions upon billions of that profit to already-ultrawealthy shareholders... and then earnestly argue that they're right to raise prices for the consumer at the same time? It beggars belief.
Because they call for irrelevant speculation, and I'm uninterested in that.
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If their prices are the same as other retailers, then what is the problem? You do realize if you force Walmart to lower prices because they make too much, then they will have prices lower than everyone else and thus everyone else would be run out of business thereby guaranteeing Walmart a monopoly.
Walmart price gouging is irrelevant speculation.
Stay on topic please. You people can't even abide by your own principles...A
thread made by somebody who does nothing but
"Other places also overcharge, so megacorporation X should be able to overcharge too".
No, sorry, I still care more about people having access to affordable groceries and necessities than I care about how many extra billions the megacorp makes.
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The fact that prices rise above inflation, and wages don't keep pace, despite companies making extremely high profits. Exactly the same details that I gave for Walmart.
That's what you been doing from the very start. That glass house must be beautiful from up there.
My other response: second verse same as the first. Deal with it and check it!
Just because the inflation rate is at X% doesn't mean that everything goes up that same percent, some things go up less and some things go up more. You have literally no evidence of this price gouging. And for the last time Walmart is not making any more profit than they've been making in past years.
Inflation is cooling. So why are food prices, from steak to fast-food meals, still rising?
Higher food prices partly caused the hotter-than-expected inflation report. Getting pinched at the grocery store is souring Americans on the economy.
www.cbsnews.com
I never claimed every thread is supposed to stay on-topic, you did, abide by your own principles.
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So in other words, that's all on you. Good to know you played yourself. And I'm not just talking about every thread you made, I'm talking about the friends you tried to make off topic or go off topic that weren't yours. Think harder next time. Write it on your hand, if you don't trust your head.
A number increasing by a percent is the same as than number multiplied by 1 + that percent. So profit increasing by 3% is saying the new profit is 1.03 times the old profit. So we take the equation below to start
Profit = Revenue - Expenditure
P = R - E
Then multiply by 3 unknowns
Both profit and revenue increase by the same amount, X. Expenditure changes by the amount Y
P*X = R*Z - E*Y
But we know two are equal already, so
P*X = R*X - E*Y
Substitute in the first equation for P
(R - E)*X = R*X - E*Y
Multiply across parentheses
R*X - E*X = R*X - E*Y
Subtract R* X from each side
- E*X = -E*Y
We know expenditure is a positive real number, divide both sides by -E
X = Y
If revenue and profit increase the same percentage, expenditure must have also increased that same percent.
How would you feel if someone told you that you make enough already and should just never ever get a raise bigger than a cost of living adjustment?
Yes, I am aware of simple maths. Now consider what's required for revenue to increase by 5%, and what's required for a profit margin to increase by 5%.
I'd ask that person to look at my rent and expenditures, and the contribution I make towards my employer. And since i-- unlike Walmart-- do not have billions extra each year, I'd expect them to consider my situation differently. Especially since the value I generate is in excess of what I cost.
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Try to explain whatever it is you are hoping I'll arrive at.
The value of Walmart is in excess of what Walmart costs.
Ok. Do you think an increase of 5% on 610 billion revenue involves all the same factors, in the same proportions, as an increase of 5% on 145 billion profit?
You're right, nobody should ever be given pay rises, and if employees provide value they should have it siphoned off for shareholders.