Is Walmart a barometer for the health of the U.S. economy? The company’s CEO recently said that the increasing levels of food and fuel inflation are affecting how customers spend and they’re actually looking to roll out more markdowns. The company expects a slow down in consumer spending for general merchandise in the second half of this year.
As you may remember, lots of companies have begun to make changes in anticipation of a major economic slowdown, possibly recession, at the end of this year. And possibly also at the beginning of next year. Walmart also cut its profit outlook for the second quarter and the rest of this year. Walmart’s rivals are more than likely watching closely and we could see other retailers drop prices as well as a response to inflation and a tanking economy.
Click to listen to the report from AURN’s Jamie Jackson:
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