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Wal-Mart's core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.
Lately, they're "running out of money" at a faster clip, he said.
NEW YORK — Seeking to reverse seven straight quarters of same-store-sales declines at its U.S. namesake chain, Walmart said Monday that it's expanding the number of items on its shelves, launching TV advertising and working with its suppliers to lower costs. The Bentonville, Ark.-based retail giant, hurt by a previous strategy to narrow its product assortment, said it's adding about 8,500 items, or 11 percent, to an average store. Fishing supplies, crafts and fabric are among items being added back to store shelves, Walmart U.S. Chief Merchandising Officer Duncan Mac Naughton told reporters, adding that the company is tailoring some merchandise to local demand, such as selling ice-fishing tools in markets like Minnesota.