Bidenomics is now so bad that even upper income shoppers are patronizing Walmart as the company says that it is now seeing higher income folks coming into its stores.
“We’re seeing higher engagement across income cohorts, with upper-income households continuing to account for the majority of the share gains,” CFO John David Rainey told industry analysts in a recent earning call, according to Fox Business Network.
The company defines the income groups roughly as $50,000 and below, $50,000 to $100,000, and $100,000 and above.
It’s been a consistent theme for the Arkansas-based retailer while household budgets remain under pressure. Rainey noted that in back-to-back fiscal quarters the retailer had “share gains among upper-income households.”
The comments come as inflation remains above the Federal Reserve’s 2% target. In April, inflation climbed 3.4% from the same time last year, down from the 3.5% reading in March. While inflation has fallen considerably from a peak of 9.1%, progress has largely flatlined since the summer.
Joe Biden’s economic destruction is now even hitting those who until now would not have been caught dead in a Walmart.
Biden is killing us all… even the “rich.”
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