Walmart CEO: Stressed Shoppers are Carefully Managing Budgets
Dow Jones
Aug 20
0902 ET - Walmart's customers are feeling pressured, and they continue to prioritize value and convenience, CEO John Furner says on a call with analysts. The retailer continues to work to lower prices, a move Furner says is building trust with shoppers by helping them save money at a time when many households are carefully managing their budgets. Walmart's U.S. team delivered more than 11,000 price rollbacks during the latest quarter, up from about 7,200 a quarter earlier. "We're investing heavily in price because customers need us to, and because we believe it drives market share gains over time," Furner says.
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