Walmart: We'll be the last to raise prices
Home & Textiles Today Staff -- Home Textiles Today, April 26, 2011
New York - Addressing an investor's conference earlier today, Wal-Mart Stores Inc. president and ceo Mike Duke said the company "will be the last" retailer to raise prices.
Of course, all retailers have been adjusting their pricing upward for several months as raw material prices have climbed - Walmart included.
Duke broke no major news during his address at the Barclays Capital 2011 Retail and Restaurant Conference, and with the company's third quarter results scheduled to be released May 16, he demurred from performance specifics.
"I won't tell you at which point we will deliver positive store comps," he said, adding they are the U.S. division's greatest priority. "I do see traction."
Mednick Talks to HTT about Online Trends for Textiles