Walmart Sees Price Drops Across Most Categories, Faces Challenges in Dry Grocery
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As CEO Doug McMillon reported, while Walmart has seen an overall decline in prices across a variety of items, including apparel, the retailer continues to see persistent inflation in its dry goods and processed foods sections. This includes commonly purchased items like soft drinks.
In a discussion following Walmart’s fiscal second-quarter earnings announcement, McMillon noted ongoing negotiations with suppliers to encourage further price reductions. “While we’re seeing less overall pressure, some suppliers are still raising cost concerns, and we’re actively challenging those concerns to ensure that prices are reduced,” he said.
According to Walmart Chief Financial Officer John David Rainey, who spoke to CNBC, the company’s inflation levels remained stable thr...