"CEO Todd Vasos said on Thursday that inflation continues to hurt the discounter’s customers and that the macroeconomic environment won’t improve this year." Source: CNBC
“Our customers continue to report that their financial situation has worsened over the last year, as they have been negatively impacted by ongoing inflation. Many of our customers report they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities,” Vasos said. “As we enter 2025, we are not anticipating improvement in the macro environment, particularly for our core customer.”
It's not looking good out here, Walmart saying the same thing.
Walmart CEO Doug McMillon has expressed concerns about continuing food inflation in 2025, particularly in categories like eggs and dairy, and expects consumers to be frustrated with rising grocery bills.
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