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Walmart set to lose billions from SNAP benefits stopping in November (www.newsweek.com)

submitted 7 months ago by pelespirit@sh.itjust.works to c/usa@midwest.social

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According to a June report from the market research data firm Numerator, Walmart accounts for roughly a quarter (24 percent) of SNAP shoppers’ total spending. Given the estimated $100 billion spent by the government on the program annually—roughly $8.3 billion monthly—this would imply a loss of about $2 billion for Walmart if the benefits are withheld for the entire month of November.

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[–] Rose_Thorne@lemmy.zip 18 points 7 months ago

The entire grocery sector is about to be bleeding like a stuck pig. My store is already preparing to have our lowest sales on record. I'm in an economically poor Southern town, a large percentage of our shoppers rely on SNAP benefits. Hell, a large number of our employees are on some form of financial assistance or another.