Walmart slashes prices on clothes as inflation changes shopping habits - NJ.com

One of the nation’s leading retailers is rolling back prices.

Walmart recently announced plans to slash prices on apparel items in an attempt to clear out excess inventory. The moves come as inflation takes center stage across the world.

Walmart cited a shift in consumer patterns, as shoppers are focusing on buying food rather than clothes.

Currently on Walmart’s fashion section of its website, you can find savings of up to 60% off.

According to a CNN report this week, Walmart also is laying off about 200 corporate employees.

“The increasing levels of food and fuel inflation are affecting how customers spend, and while we’ve made good progress clearing hardline categories, apparel in Walmart U.S. is requiring more markdown dollars,” Doug McMillon, Walmart Inc. president and CEO, said in a press release.

Walmart isn’t the first retailer to take this approach to combat inflation.

Earlier this year, Target announced a plan to cut prices in a similar fashion to fight inflation. Target also cited a shift in shoppers’ spending habits because of the rising costs of food and other non-discretionary items.

Walmart did not specify exactly how much inventory will be marked down or how long the price cuts would last.

The company currently operates 62 stores in New Jersey and over 3,500 nationwide.

RELATED STORIES ABOUT RETAIL AND SHOPPING:

Growing salad chain Sweetgreen opens in N.J. shore town

Vegan bakery from ‘Shark Tank’ set to open 3rd N.J. store

Retail store closings 2022: The list of chains that closed stores in N.J. so far this year

Our journalism needs your support. Please subscribe today to NJ.com.

Christopher Burch can be reached at cburch@njadvancemedia.com. Follow him on Twitter: @ChrisBurch856. Find NJ.com on Facebook. Have a tip? Tell us. nj.com/tip

Adblock test (Why?)