COVID-19 Stimulus Checks Spurred Higher TV Sales, Says Walmart CEO
When the pandemic first hit, Walmart sales shifted heavily toward “food and consumables,” followed by a “do-it-yourself phase related to home projects, entertaining and educating,” CEO Doug McMillon told his company’s annual shareholder meeting Wednesday. “We saw a third phase…
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begin influenced by stimulus dollars.” Sales increased in TVs, videogames, toys, sporting goods and apparel, he said.