BENTONVILLE, Ark.—Senior Walmart Inc. executives said on Friday some suppliers have been responding to the largest U.S. retailer’s efforts to lower prices despite their own struggles with high inflation, material and labor costs.
Investors have questioned Walmart’s ability to ask suppliers to offer price reductions when they too are focused on protecting margins in the face of inflation hovering at a four-decade high.
“There are certain suppliers that have taken one line, others that are working with us to find ways to reduce costs even in times when costs are going up,” John Furner, CEO of Walmart U.S., said in response to an analyst question at the Arkansas-based company’s annual meeting….