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Thursday, March 31, 2011

Wal-Mart CEO Bill Simon expects inflation - USATODAY.com

Wal-Mart CEO Bill Simon expects inflation - USATODAY.com: "U.S. consumers face 'serious' inflation in the months ahead for clothing, food and other products, the head of Wal-Mart's U.S. operations warned Wednesday.

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.

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.'"

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