During the economic down turn, Warren Buffet is looking to cash in on the frugal consumer! In the latest quarter, Berkshire Hathaway increased its’ stake in Walmart the discount retailer from 19.9 million shares as of June 30th to 37.84 million shares.
For the first month in quite a while a large group of retailers suprised with sales numbers to the upside. While clothing, and other non-necesssary sales were still down, discounters like Walmart and Costco looked to be doing much better. Consumers seem to be looking for value and lower price points to stretch their dollar. May and June are expected to be a litte better as well as the rebate checks should be getting into the consumers hands to give them some extra spending power.
