Thursday, March 31, 2011

Wal*Mart Head of U.S. Operations: "U.S. consumers face 'serious' inflation in the months ahead for clothing, food and other products'" (WMT)

From USA Today:
U.S. consumers face "serious" inflation in the months ahead for clothing, food and other products, the head of Wal-Mart's U.S. operations warned Wednesday.

The world's largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors.

Still, inflation is "going to be serious," Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY's editorial board. "We're seeing cost increases starting to come through at a pretty rapid rate."...MORE including video of the interview.

HT: the Los Angeles Times' Money & Co. blog: