Consumer
Walmart CEO Warns Food Prices Are Causing ‘Frustration and Pain’
Higher prices for everything from beef and eggs to fuel present a challenge for retailers including Walmart, which has become one of the world’s largest companies by offering “everyday low prices.”
Photographer: Shelby Tauber/BloombergThis article is for subscribers only.
The chief executive officer of Walmart Inc. said American consumers are showing signs of stress as food prices remain stubbornly high.
Some shoppers are running out of money before the end of the month and turning to smaller pack sizes for consumer goods, Chief Executive Officer Doug McMillon told about 1,000 executives at the Economic Club of Chicago on Thursday evening. While prices for products such as apparel are now near pre-pandemic levels, food prices are still elevated.