key takeaways
- Walmart US CEO John Furner said at a panel on Wednesday that American shoppers were “resilient.”
- Ferner noted that buyers were selective but consistent in their purchases.
- The CEOs of JPMorgan Chase, Wells Fargo and Citigroup each described the U.S. economy as strong this week.
a chief executive in world’s largest retailer Revenue says U.S. consumers continue to spend at a healthy rate and remain remarkably “resilient.”
during a panel Speaking at CNBC’s “Invest in America” forum on Wednesday, Walmart’s U.S. CEO John Furner said that while customers are shopping thoughtfully and choosing their purchases carefully, their spending habits remain stable and consistent.
“We see (a) flexible customer who makes really smart choices about what’s right for them and their families when shopping,” Furner said on the panel.
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with tariff rates taking Walmart is using a targeted price increase system in certain categories to help maintain stable prices, he said, ranging from about 10% to 100%.
For example, the retailer has held prices steady on groceries and electronics but raised prices on select itemsLike car seats and cookware.
Walmart, meanwhile, managed to limit its overall US price growth to just 1% year-over-year in the second quarter of the year, which is significantly lower than the 6% inflation seen in the broader economy during the same time period. an investmentFerner said the retailer plans to offer more discounts this fall.
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“This is a very strong economy that we’re working in,” Furner said on the panel.
Retail sales in the US have been on a winning streak recently, rising for three consecutive months over the summer, according to US Census Bureau data. Buyers during this period particularly promoted sales at online stores, clothing retailers and sporting goods stores.
CEO of Wells Fargo charlie sharfCitigroup CEO jane fraserAnd JPMorgan CEO Jamie Dimon also used the word “resilient” when reporting earnings in person this week. Beat wall Street forecast,
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“The American economic engine is really still humming along,” Fraser said. reuters,
For the three months to September, JPMorgan’s profit reached $14.4 billion, an increase of 12% year-on-year.
“The U.S. economy remained generally resilient,” Dimon said. in an earnings statement“The level of uncertainty resulting from complex geopolitical conditions, tariff and trade uncertainty, elevated asset prices and the risk of sticky inflation continues to increase.”
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key takeaways
- Walmart US CEO John Furner said at a panel on Wednesday that American shoppers were “resilient.”
- Ferner noted that buyers were selective but consistent in their purchases.
- The CEOs of JPMorgan Chase, Wells Fargo and Citigroup each described the U.S. economy as strong this week.
a chief executive in world’s largest retailer Revenue says U.S. consumers continue to spend at a healthy rate and remain remarkably “resilient.”
during a panel Speaking at CNBC’s “Invest in America” forum on Wednesday, Walmart’s U.S. CEO John Furner said that while customers are shopping thoughtfully and choosing their purchases carefully, their spending habits remain stable and consistent.
“We see (a) flexible customer who makes really smart choices about what’s right for them and their families when shopping,” Furner said on the panel.
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