Wal-Mart Stores Inc. is cutting orders from suppliers this quarter and next because of rising inventory, according to a Bloomberg News report Thursday.
The Bloomberg report cites a Sept. 17 email message to suppliers that said the retail giant plans to reduce inventory for the third and fourth quarters.
Wal-Mart's U.S. inventory growth surpassed sales gains in the second quarter at a faster rate than at the retailer's largest rivals, according to Bloomberg. Consumer spending has been less than Wal-Mart projected, and the company has lost some sales because it lacks enough workers to keep store sales adequately stocked, the report said.
By Dave Larsen - Dayton Daily News, Ohio
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