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Walmart announces price changes for thousands of items, including groceries


Walmart announces price changes for thousands of items, including groceries

Your next Walmart visit could just be cheaper for you and your family, as the company has announced it will be slashing prices across all of its stores. According to Axios, the nation’s largest retailer has slashed prices on an estimated 7,200 items as part of the company’s efforts to keep groceries and household items affordable for customers.

The move to cut prices came after the company announced last week that forecast sales growth for the year is expected to be between 3.75 percent and 4.75 percent. Walmart says customers have gravitated to the store’s private labels as they continue to look for the best deals when shopping. The company also says the growth is not due to price increases, but rather to stores generally selling more of the products.

“We are committed to maintaining consistently low prices and do not intend to improve our margin performance by passing this on to our customers and members in the form of higher prices,” said Walmart Chief Financial Officer John David Rainey.

While prices are coming down on some items, certain foods like dairy, meat and eggs will continue to become more expensive for the retailer, according to CNBC, leading to higher costs for consumers. Walmart CEO Doug McMillon says he has spoken to suppliers about cost-cutting and says those companies could do more to help consumers.

“The upward pressure is less, but there are still people talking about cost increases. We are aggressively fighting back against that because we believe prices need to come down,” McMillon said.

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