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."
Looking out his shop window, across the street, just to the right, Paloma Clothing co-owner Mike Roach sees one of Portland, Oregon’s, most expensive gas stations.
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