Prices of many groceries and other items have fallen at Walmart, according to CEO Doug McMillon.
Yet the leader of the nation’s largest retailer said Thursday that inflation “has been more stubborn” in one particular part of the store: The aisles that carry dry groceries and processed foods. Those include items like carbonated soft drinks.
On a call after the discounter posted second-quarter earnings, he said Walmart has pressured suppliers that stock its shelves to cut prices. But he called on those companies to do more.
“We have less upward pressure, but there are some that are still talking about cost increases, and we’re fighting back on that aggressively because we think prices need to come down,” he said.
Walmart’s overall inflation was flat for the quarter, and revenue growth came from selling more units, not charging higher prices, Chief Financial Officer John David Rainey told CNBC.But price dynamics weren’t consistent across products: prices continued …