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Business News

Higher Inflation is Not a Bad Thing


The world’s largest retailer, Wal-Mart, posted disappointing results for Q1 as profits fell 5% to $3.6 billion.  The company cited bad winter weather in the US and a tough international sales environment as their economies continue to struggle.  US same store sales grew 2% and international sales were down 1.7%. (Market Wire)

US wholesale prices climbed by 0.6% in April the most in three years.  US producer price inflation is now running at a 2.1% clip.  Rising food prices, what impacts the average consumer the most, saw some of the biggest gains. (Bloomberg)

Eugene-based retailer Bi-Mart is opening a chain of Cascade Farm and Outdoor stores throughout the Pacific Northwest.  The first store opened this year in Walla Walla, Washington.  The stores will be farm and feed based with goods Bi-Mart does not carry and will have more upscale brands like Carhartt, Columbia and DeWalt tools. The company employs 3500 persons and will open their 75th store this year.  (Oregon Live)

In a secondary sign that employment is improving 1.2 million persons have dropped out of the food stamp program from October 2013 to February 2014.  That is a 4% decline.  Over 46 million Americans are on the food stamp program which costs taxpayers about $6 billion a month. (Wall Street Journal)
 


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