Walmart executives say a “tough” and “unpredictable” economy and gridlock in Congress are hurting business.
“When all people hear about on the news is the economy and the debt ceiling, that’s not helpful,” Walmart U.S. CEO Bill Simon said at Walmart’s annual meeting with investors and analysts. “We’re battling through that — and it is a constant battle.”
Walmart President and CEO Mike Duke tried to assure investors, however, that “no matter what environment we are in, Walmart will win.”
“Even in a tough and unpredictable economy, there is strength in our business all around the world,” he said.
Same-store sales at Walmart U.S., its largest business, unexpectedly fell 0.3% in the second quarter. Simon said Walmart U.S. feels “pretty good” about profit but is “not satisfied at all” with sales.
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