Walmart is still seeing ‘strong’ demand and spending, its U.S. CEO says

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,“We’re certainly watching the market very closely, but what we see from customers is that spending is still strong. There’s a lot of demand in the United States and we think that will continue.”,

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— John Furner, CEO of Walmart US

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He is the Chief Executive Officer of WMT, Walmart Inc.
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The US business said the retail sector continues to see positive spending trends, despite various financial pressures on consumers.

Speaking On NBC’s “Today” show Earlier on Wednesday, Walmart’s US CEO John Furner declined to predict whether we would see a recession, but offered that consumers are searching for “value” in the current economy.

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Last quarter, Walmart saw “a significant amount” of new customers who were “on higher earnings than before,” he said.

Asked whether consumers are hitting their financial breaking points, he said circumstances vary.

“Some customers are switching to private brands and smaller-pack sizes, and then other customers are in better shape, so it’s really different depending on where you are across the country,” according to Furner.

He said Walmart was working to “remove unnecessary costs from any part of our business” so that the company could “better reflect retail values ​​for customers.”

In general, he called certain categories that have seen better price trends. There has been little “moderation or dissolution” in the proteins, and there has also been “some deflation” in the wider world of television and consumer electronics, he said.

Walmart next reported its November 15 earnings.

Credit: www.marketwatch.com /

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