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Walmart CEO optimistic about holiday inventory, comments on FTC supply chain probe

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(NEW YORK) — As holiday shopping season ramps up, Walmart CEO John Furman addressed the concerns of prices and how long supplies will last.

Furman told Good Morning America that President Joe Biden, who met with retail executives this week, and his administration have “been a great help.”

“We’re all working together to make sure that customers have what they need over the holiday season and ended our third quarter up in inventory,” Furman said. “It took a lot of work on behalf of our team and they’re working really hard.”

As the calendar dwindles down on 2021, Furman said that “it’s always a good idea to shop early” and “just like every year there’s something hot, a hot toy — like game consoles — but we have a couple things we can help with.”

“Last week we had our biggest day ever in terms of delivery,” he said of their Walmart Plus membership program. “But there’s some categories like Christmas decor — that are selling quick.”

Other trends that Furman said Walmart has seen and prepared for, are people “spending a lot more time together in groups.”

For Thanksgiving alone, he said “we sold over 10 million turkeys, which is about 2 million more than last year, so it tells you a bit about how many families are getting together and spending time together.”

The Federal Trade Comission has launched a probe into the supply chain issues, which Furman said Walmart just learned about, and said he is optimistic about the company’s position in the market.

“A lot of what you see in stores and online, all the products and what’s available, these are the results of plans, in most cases, that started over a year ago. Our merchants work about 12 months out to determine what they think the trends are, what people will be looking for,” he said. “And we’re proud of our inventory position at this point.”

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