Checkout
Walmart Warns of Sales Pressure With End of Stimulus Checks
- Consumer spending tailed off late in the quarter, CFO says
- Retailer’s e-commerce sales jump 97% in second quarter
This article is for subscribers only.
Walmart Inc. has benefited from soaring online orders and a market-leading grocery business through the pandemic. But with federal stimulus checks no longer buoying consumer spending, tougher times could lie ahead.
The retailer’s comparable sales growth slowed last month as the impact of the government relief program waned, according to Chief Financial Officer Brett Biggs. A consumer survey from analysts at Stifel found that three out of four Americans have already spent a chunk of their stimulus checks.