Walmart CEO Mike Duke said consumers are still under “a lot of stress” in an interview aired Wednesday on NBC’s “Today” program.
“We all want to be hopeful,” he said. “We’re all looking for a better day when we start to come out of this.”
Duke, however, does not expect the economy to bounce back quickly. He also noted that, as a percentage of sales, more customers are using cash.
“What we see is, at the end of the month that’s just before traditional paydays, the customer is in that situation where they’ve only got a few dollars to spend,” he said.