Walmart Sees Sustained Pressure From Inflation as It Begins Automation Push
Walmart said on Wednesday that inflation would continue to pressure its business this year, and that it would slow its pace of hiring as it builds out automation technology.
“We believe, over time, the number of associates will grow, but at a slower pace than in the past as we complement people growth with technology and automation,” CFO John David Rainey said at the company’s investor meeting in Tampa, Florida.
Inflation
Across the country, persistently high inflation is still pressuring many consumers.
The Labor Department reported last month that the Consumer Price Index climbed 0.4 percent in February from the previous month and 6.0 percent over the last 12 months….