The debate on whether the stimulus checks arriving to the digital bank accounts of U.S. consumers are working rages on in the halls of Congress and on Wall Street. But from the perspective of America’s largest retailer Walmart (WMT), the newfound cash infusion to household balance sheets are working as designed.
They are helping people spend a little more on daily essentials, perhaps after a recent job loss, or encouraging people to splurge, if they are still employed.
“I think it helped,” Walmart U.S. CEO John Furner — who oversees more than 4,700 U.S. stores — said about the checks on Yahoo Finance’s The First Trade.
“We were softer in Easter than what we had expected to be and weren’t sure if that’s where things were going to be for some time. A few days after the stimulus checks began to land, people were settling in at home. Call it