Walmart CEO: Food Prices Are Causing ‘Frustration and Pain’
Higher Prices ‘Have Persisted for Years Now, and You’re Just Tired of It,’ Says McMillon
Doug McMillon at CES in 2024 in Las Vegas. McMillon says Walmart is worried about the “stress behaviors” it is seeing among budget-conscious shoppers. (David Paul Morris/Bloomberg News)
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The CEO 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, CEO Doug McMillon told about 1,000 executives at the Economic Club of Chicago on Feb. 27. While prices for products like apparel are now near pre-pandemic levels, food prices are still elevated.
Walmart ranks No. 1 on the Transport Topics Top 100 list of the largest private carriers in North America.
Walmart is seeing “stress behaviors” among budget-conscious consumers, “and we worry about that,” McMillon said. “You can see that the money runs out before the month is go…
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