Morning Report: Walmart predicts high inflation and prepares for layoffs

As it prepares to lay off thousands of employees, Walmart says it expects stubborn inflation to continue weighing on its business this year. Although inflation has cooled from a peak of 9.1 percent, notched last summer, it remains uncomfortably high. Meanwhile, Costco’s sales saw their slowest growth in 3 years.

The average wedding guest will spend 611 dollars per wedding this year. Bankrate says that includes travel, accommodations, gifts and attire. To pay for all of it, 18 percent of Americans say they will take on credit card debt.

Half of parents said they split parenting duties equally. A survey by OnePoll, on behalf of Baby Magic, also showed that the average parent compromises with their child about four times per week. Meantime, a recent survey on average finds a pay disparity. Moms working full-time earn just 74 cents for every dollar paid to a dad in the U.S. The National Women’s Law Center also reports that the pay gap is even worse for many moms of color.

New research from DermTech suggests one in five millennials and Gen Xers didn’t wear sunscreen as a child. The survey also found that most respondents use sunscreen on their face, but only 38 percent apply it to their legs and feet. Even fewer people apply it to their chest and back. After dealing with his own skin cancer scare, actor Hugh Jackman recently urged fans to wear sunscreen.

Categories: Morning Business Report