Walmart Leaked Emails Reveal Financial Troubles

Problems for America's biggest retailer have Wall Street worried about the strength of the economy.
2:11 | 02/19/13

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Transcript for Walmart Leaked Emails Reveal Financial Troubles
We have more money talk, george. A big headline for america's largest retailer. Apparently trouble for walmart revealed in leaked e-mails between executives that paints a dark picture of sales there right now. Is there a signal of bigger problems for the american economy. Our newest correspondent, abc's linzie janis, welcome back. Reporter: Thank you very much. Any shopper there, considered a real important barometer for the health of the u.S. Economy. And the e-mails have sparked concerns on wall street about the strength of the recovery. It's the retail giant known nationwide for low prices and loyal shoppers. But in a series of e-mails obtained by bloomberg, one walmart senior executive recently asked, where are all the customers? And where's their money? In another leaked message, the walt vice president writes, february sales are a total disaster. The worst start to a month i have seen in my seven years with the company. Sources say the conversation is not representative of the company's sales nationwide. But experts say they do point to a growing concern about the economy. What one executive calls a one-two punch. The 2% hike in payroll taxesnd a delay in tax refunds. It shows they were panicking in early february with the pace of sales. It's a concern of what's going on in the economy and households. Obviously, a bit of a cash squeeze. Reporter: Other companies have pointed to gridlock in washington as being a drag on the economy. AND CEOs FROM FOOT LOCKER AND Target have also pointed to the payroll tax increase as one reason why consumers are being cautious. Experts say just that 2% extra paid in taxes, means a family making $40,000, will have $800 less in their pockets this year. The equivalent of 16 bags of groceries or 80 packs of diapers from the average retailers. Walmart released a statement saying the leaked e-mails are out of context. And analysts say it's too soon to tell if americans are spending less. And gas prices spiked 51 cents a gallon in the last two months. That's painful. We're going to turn, now, to the massive dit that

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