U.S. shoppers are still pressured by inflation, Walmart CEO says
McMillon said Tuesday that prices for fresh food are more volatile and fluctuate more. Beef prices are down, for example, while chicken prices are still high and produce prices are relatively low relative to what they were before, he said.As it benefits from its grocery business, however, it has gotten tougher for Walmart to sell pricier items and discretionary items.
as it aggressively marked down some merchandise and as consumers bought fewer high-margin discretionary items. But it raised its comparable sales projection because of stronger-than-expected grocery sales. Last month, it gave a more cautious outlook than Wall Street expected. Walmart said it anticipates comparable sales for Walmart U.S. will rise about 3%, excluding fuel, in the holiday quarter. That was below Wall Street's expectations of 3.5% growth, according to StreetAccount.
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