Retail

Walmart is doubling down on deals as inflation pushes prices higher

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A customer browses products at a Walmart store in Burbank, California

Patrick T. Fallon | Bloomberg | Getty Images

Inflation is driving up prices of items from soda to diapers, but Walmart said it is putting more of its merchandise on sale.

Walmart U.S. CEO John Furner said on an earnings call Tuesday that the retailer had about 30% more discounts in stores in the first quarter than the same period a year ago. He said it plans to continue to dangle deals and widen price gaps to stand out from competitors.

“Over the last 12 months, we saw our price gaps improve versus the market, and our merchants are working hard to ensure that that will continue,” he said.

The retail giant has cultivated a…



Source cnbc.com

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