Walmart Cuts Profits, Shoppers Spending Shift To Necessities

Screenshot 2022-07-26 6.40.30 AM

At a glance

  • America’s Walmart cut its quarterly and full-year profit guidance, saying inflation is causing shoppers to spend more on necessities such as food and less on items like clothing and electronics.
  • Spending shift leaves more items on store shelves and warehouses — forcing the big-box retailer to aggressively mark down items that customers don’t want.

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