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Market is overreacting to Macy's sales, says former Walmart CEO

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Former Walmart CEO Bill Simon said that the drop in retail stocks on Macy's weak holiday sales is a 'huge overreaction.' He said that the consumer is still 'buoyant' and that retail is still 'very strong.'

 

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Except for the consumers who are furloughed government employees, subcontractors or have to work without pay. Not a lot of buoyancy in those households.

I go to walmart in the town I was born in it is like a third world country. They have like 27 self checkout registers open with no cash for change in them and 2 regular registers open out of 24. took me 20 minutes to get the 90 cents the machine owed me. the shelves are empty....

Right...

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