WMT - Walmart's 24% Stock Rise Fueled By New High-Income Shopper Strategy And What It Means For Future Stock Growth | Benzinga
- Former Walmart CEO Bill Simon expresses concerns that the influx of high-income shoppers at Walmart might alienate traditional customers.
- Walmart's financial performance remains robust, recently reporting quarterly earnings that surpassed expectations.
Former Walmart Inc. (NYSE: WMT) CEO Bill Simon notes that the increase in high-income shoppers poses some unique challenges. While these affluent customers have boosted Walmart's grocery sales, Simon worries this trend might marginalize those who rely on them for their traditionally lower prices.
He suggests this demographic shift could be temporary rather than permanent. The COVID-19 pandemic has accelerated the decline of traditional indoor mall retailers, pushing consumers towards discount and online stores due to inflation and changing retail environments.
This shift favors retailers ...