Estimated read time: Less than a minute
SALT LAKE CITY -- It may not be exciting, but how would you like some socks or underwear for Christmas?
Walmart is banking on its customers buying and wrapping up the basics to put under the tree. The CEO says many customers remain financially challenged, so the store will have more socks and underwear on sale.
University of Utah finance professor Scott Schaefer says there just hasn't been much wage growth.
"It's looking like it will be another less than robust Christmas season. Practical is probably the word of the day," he says.
Schaefer thinks there still will be demand for high-tech gadgets and toys because not everyone is struggling, and there will be sales.