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Inflation pushes budget shoppers away from Walmart. Luring them back not easy, say experts

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Walmart Inc WMT.N could face an uphill battle to reclaim U.S. shoppers who opted for the neighborhood dollar store or Aldi rather than driving farther to a Walmart Supercenter when gasoline was $5 a gallon.

While gasoline prices have dropped nearly 20% over the past month, there are no signs shoppers are returning to the nation’s biggest retailer, according to foot traffic data reviewed by Reuters and analysts. Read more: Indigo reports $25.4M 2nd-quarter loss, citing end of COVID support and inflation Inflation remains at a 40-year high, devouring a large chunk of the grocery budgets of many Americans, especially Walmart’s legions of cost-conscious shoppers.

Foot traffic at Walmart’s 3,573 U.S. Supercenters and its 370 discount stores (as of Jan. 31, 2022) fell 2.7% on average from June 1 through July 25 versus a year earlier, according to data from Placer.ai, a location analytics firm.

Meanwhile, traffic rose 11.5% at Aldi ALDIEI.UL, owned by German discount grocer Aldi Süd, and the number of shopper visits climbed 4.1% at Dollar General.

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King Charles III names son Prince of Wales in 1st speech, vows ‘unswerving devotion’
King Charles III bestowed titles and vowed his “unswerving devotion” to upholding the constitutional principles of the United Kingdom and the realm.His comments come roughly 24 hours after Buckingham Palace announced the death of his mother, Queen Elizabeth II, which spurred his accession to the throne.“Queen Elizabeth was a life well lived, a promise with destiny kept, and she is mourned most deeply in her passing,” King Charles said in the speech.“That promise of lifelong service I renew to you all today.” Queen Elizabeth II has died. Here’s what’s next for King Charles III At age 73, King Charles becomes the oldest person to ever assume the throne.The new King gave some glimpses into how he intends to serve in the new role, pointing out that the U.K.’s values “have remained and must remain constant.”“As the queen herself did with such unswerving devotion, I too now solemnly pledge myself, throughout the remaining time God grants me, to uphold the constitutional principles at the heart of our nation,” King Charles said.“Whatever may be your background or beliefs, I shall endeavour to serve you with loyalty, respect and love, as I have throughout my life.”With an eye to plans for future successions, King Charles also used the speech to bestow new titles on his son, Prince William, Duke of Cambridge, and his wife Catherine, the Duchess of Cambridge.Prince William will become Prince of Wales, and Kate will become the Princess of Wales — a title last held by her husband’s late mother, Princess Diana.The new King did not announce any title changes for his other son, Prince Harry, nor for the prince’s wife, Meghan and their children.
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