11/16/2021, 4:53 PM (Source: TeleTrader)
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Walmart CEO: Inflation chance to outprice rivals

Walmart CEO Doug McMillon said on Tuesday that his company sees inflation as an opportunity to increase its market share and emphasize its commitment to providing value for customers.

McMillion told CNBC that Walmart is "proud to try and hold prices down ... Our conversations with suppliers today, tomorrow will be 'how can you help us roll back prices and swim upstream and be different than everybody else?'"

Walmart reported its third quarter earnings earlier in the day, beating expectations to post revenue of $140.5 billion for a 4.3% year-on-year increase.

Baha Breaking News (BBN) / IB