Walmart and Target clash with investors over strategy to keep prices low despite inflation

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Investors are at odds with the discounters over how much of the higher costs of shipping, labor and more should be passed on to customers.

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"We save people money and help them live a better life," he said. "Those are the words that came out of [Walmart founder] Sam Walton's mouth. He loved to fight inflation. So do we.""We are protecting prices," he said on a call with reporters. "It's as important to our guests this year as safety has been throughout the pandemic."

Target has touted its market share gains frequently on calls with investors. It picked up about $9 billion in market share in the fiscal year ended Jan. 30, based on research by the company and third-parties. It said it gained another $1 billion in market share in the first three months of this fiscal year.

"Price is one lever they have to continue to honor their customer promises and to aggressively defend their share," she said.

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