.Walmart to slash prices as inflation harms consumer purchasing power
According to Doug McMillon, Walmart's president and CEO, “The increasing levels of food and fuel inflation are affecting how customers spend, and while we’ve made good progress clearing hardline categories, apparel in Walmart U.S. is requiring more markdown dollars. We’re now anticipating more pressure on general merchandise in the back half; however, we’re encouraged by the start we’re seeing on school supplies in Walmart U.S.
After a reporter asked White House press secretary Karine Jean-Pierre the definition that the administration is relying on, she responded that she will not define it from the podium.
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