USA Today: Wal-Mart CEO Bill Simon expects inflation
Writing for USA Today, Jayne O'Donnell reports on Walmart CEO, Bill Simon's dire warning of rapid inflation in months ahead:
The nation's largest retailer needs to get back to its roots as the lowest priced one-stop shop for consumers, Walmart CEO Bill Simon said.
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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."