![How to Nail First-Party Data Strategy According to a Google Director of Product Management [+ New Data]](https://www.hubspot.com/hubfs/first-party-data-strategy.webp)
Walmart says prices are coming down — except in one key area
The post Walmart says prices are coming down — except in one key area appeared on BitcoinEthereumNews.com. A customer pushes her shopping cart through the aisles at a Walmart store in the Porter Ranch section of Los Angeles. Kevork Djansezian | Reuters Prices of many groceries and other items have fallen at Walmart, according to CEO Doug McMillon. Yet the leader of the nation’s largest retailer said Thursday that inflation “has been more stubborn” in one particular part of the store: The aisles that carry dry groceries and processed foods. Those include items like carbonated soft drinks. On a call after the discounter posted second-quarter earnings, he said Walmart has pressured suppliers that stock its shelves to cut prices. But he called on those companies to do more. “We have less upward pressure, but there are some that are still talking about cost increases, and we’re fighting back on that aggressively because we think prices need to come down,” he said. Walmart’s overall inflation was flat for the quarter, and revenue growth came from selling more units, not charging higher prices, Chief Financial Officer John David Rainey told CNBC. But price dynamics weren’t consistent across products: prices continued to go up for dairy, eggs, sugar and meat, and leveled off or dropped for items including pet food, apples, potatoes, strawberries, sporting goods and lawn and garden items. Walmart’s quarterly results sparked a rally of other retail stocks, including Target, Best Buy and Macy’s on Thursday. Both the big-box discounter’s results and better-than-expected retail sales numbers defied concerns of a consumer slowdown. Walmart beat on the top and bottom line and raised its forecast to reflect a stronger first half of the year. Rainey told CNBC consumers have continued to be “choiceful, discerning [and] value-seeking,” but the company’s leaders “don’t see any additional fraying of consumer health.” All consumer brands, including Walmart, have been under more scrutiny from…
The post Walmart says prices are coming down — except in one key area appeared on BitcoinEthereumNews.com.
A customer pushes her shopping cart through the aisles at a Walmart store in the Porter Ranch section of Los Angeles. Kevork Djansezian | Reuters Prices of many groceries and other items have fallen at Walmart, according to CEO Doug McMillon. Yet the leader of the nation’s largest retailer said Thursday that inflation “has been more stubborn” in one particular part of the store: The aisles that carry dry groceries and processed foods. Those include items like carbonated soft drinks. On a call after the discounter posted second-quarter earnings, he said Walmart has pressured suppliers that stock its shelves to cut prices. But he called on those companies to do more. “We have less upward pressure, but there are some that are still talking about cost increases, and we’re fighting back on that aggressively because we think prices need to come down,” he said. Walmart’s overall inflation was flat for the quarter, and revenue growth came from selling more units, not charging higher prices, Chief Financial Officer John David Rainey told CNBC. But price dynamics weren’t consistent across products: prices continued to go up for dairy, eggs, sugar and meat, and leveled off or dropped for items including pet food, apples, potatoes, strawberries, sporting goods and lawn and garden items. Walmart’s quarterly results sparked a rally of other retail stocks, including Target, Best Buy and Macy’s on Thursday. Both the big-box discounter’s results and better-than-expected retail sales numbers defied concerns of a consumer slowdown. Walmart beat on the top and bottom line and raised its forecast to reflect a stronger first half of the year. Rainey told CNBC consumers have continued to be “choiceful, discerning [and] value-seeking,” but the company’s leaders “don’t see any additional fraying of consumer health.” All consumer brands, including Walmart, have been under more scrutiny from…
What's Your Reaction?
