he job cuts are perhaps the latest sign of conflicting macroeconomic forces.
— informing investors that earnings per share could be down as much as 13 percent for the year — thanks to consumers’ shifting shopping habits as many juggle inflationary pressures.
“Food inflation is double digits and higher than at the end of the first quarter,” Walmart said in July. “This is affecting customers’ ability to spend on general merchandise categories and requiring more markdowns to move through the inventory, particularlyWalmart is just one of many firms throughout the economy that is grappling with rising supply chain and fuel expenses as employees continue to ask for higher wages.
and accessories tend to have better margins than food and beverage categories. Excess inventory left over from previous quarters and the faster-than-expected shift in shopping habits earlier this year has also cut into profits. of Walmart and Sam’s Club pharmacy technicians, bringing the average hourly wage to more than $20 an hour.
“We are sending a strong signal to pharmacy technicians everywhere that Walmart is serious about attracting top talent and giving them the tools to build a successful career,” Kevin Host, senior vice president of Walmart Health & Wellness, Pharmacy, and Sean Jackson, senior vice president of Sam’s Club, Health & Wellness, Consumable, wrote in a joint blog post at the time.
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