Walmart sold Millions of dollars in gift cards for the holidays.
But, when people came to stores in buy stuff on sale after christmas
they could not use those gifts cards because Wal mart could not process them.
Hmmmm, I do not buy this. They now have millions of dollars that people can not spend.
They made people pay cash or credit.
Getting a gift card for your business could be a great move.
25% of gift cards are never used, so its free money.
Walmart now has free money and is also making interest on that money
in their bank. I think your business would do well if people just came by and
gave you money and you never had to provide a product or service.
Shame on Walmart for scamming people who are already financially
strapped.
Their PR people have had no comment. That is not good.
If your business has a mistake, you should have a reason articulated by
someone trained for the media to talk about it. I think this mistake will
help Walmart make the profit they need this year.
We'll see how this plays out, I wonder if anyone will questions it.
What do you think?
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2 comments:
Wal-Mart does not count the money as a sale until the gift card is used so it does not behoove them for the cards to not be used. Also, Wal-Mart doesn't process the gift cards themselves, a different company does that so they were apparently the ones with the issue.
You expect me to believe that Walmart had money in its account that it did NOT count because the gift cards were not cashed? Business accounting requires that you acknowledge funds in your accounts. If they did had money they did not report, then they were committing fraud.
That is how business works. I can not tell the IRS that I wont pay taxes on a gift certificate someone bought because no one cashed it in. I still have the cash to account for.
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