A sign inflation is easing: Walmart is slashing prices on clothing and other products
CNN
Many shoppers have pulled back on buying clothing and other discretionary items as the highest inflation in four decades pinches their pocketbooks.
That's left Walmart (WMT) and other retailers stuck with too much clothing and bigger-ticket stuff sitting on their shelves. To help clear out the backlog, Walmart is cutting prices on some items and marking down products.
"The increasing levels of food and fuel inflation are affecting how customers spend," Walmart CEO Doug McMillon said in a news release Monday. "Apparel in Walmart U.S. is requiring more markdown dollars."
In her cameo in the 1996 comedy First Wives Club, Ivana Trump offers a witty post-divorce kernel of wisdom: “Don’t get mad, get everything.” The 2024 version of that sentiment, at least among a certain class of billionaire women, might tack on an addendum: Get everything, and give it all away as fast as humanly possible.