Walmart customers prove the multinational's big boss right by shunning the clothing aisle in the store to make sure they have enough money to buy food and clothes. gasoline.
“Rising levels of food and fuel inflation are affecting how customers spend,” Walmart CEO Doug McMillon summed up Monday.
For the company, inflation is hurting to the point where it now anticipates a 10% drop in operating profit.
Title down more than 10%
Basically, we spend more on essentials and we shun departments like clothing, which forces Walmart to sometimes lower prices. price of its stocks to manage to sell them.
Yesterday, the title of Walmart action collapsed by $7.64, 10.09%, on the stock market to digest the expectations revised downwards.
At the same time, another giant, Unilever, has also said that it has been hit by galloping inflation, which has caused its prices to rise by up to 11% in one year.
Mollo even at Walmart
At Walmart on boulevard Roland-Therrien, in Longueuil, yesterday, Claude Lamothe, 84, had a lot to say about the soaring prices, which pushes him to frequent Walmart and the Maxi to maximize its purchasing power.
“It's the meat that is especially expensive. We need iron to live. You have to buy it the same. We have no choice,” sighed the retired former security officer.
At least, he said, he doesn't have a car to drink. No hefty gas bill for anyone who instead rides the bike paths in their neighborhood on a scooter.
“It's true that you have to be careful, and take it easy,” conceded the man when asked if he is cutting back on his clothing purchases.
Ronualdo Portales. Construction worker
For Ronaldo Portales, 30, a construction worker met at the entrance, inflationary overheating led him to review his diet.
“If we eat less, we have a lot more money to spend on gas and clothes,” explained the man who says he eats his fill, without excess.
In the clothing department, Alexandre Mazela , a 36-year-old beneficiary attendant, had a lot of “question marks” in his mind about the price increases, which are cascading into his wallet.
“You have to cut back on some clothing purchases to save money, otherwise we come to the end of the month with too many bills,” the man concluded.
Katrine Johns has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Gal Post, Katrine Johns worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my firstname.lastname@example.org 1-800-268-7128