Walmart CFO: Shoppers Replacing Fast Food With Groceries

Walmart’s grocery business is reportedly benefiting from the high price of fast food.The retailer’s chief financial officer, John David Rainey, told CNBC Thursday (May 16) that it’s “roughly 4.3 times more expensive” to buy a meal at a quick-service restaurant (QSR) than it is to purchase the ingredients needed to make a meal at home.“And that’s benefiting our business,” he said, per the report.Rainey added that the gap between the two prices is widening because some grocery items are holding their price or ...