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Wal-Mart downplays food stamp cut, but analysts concerned

Wal-Mart, the nation’s largest grocer, downplayed the impact of food stamp cuts on its business Friday, but analysts expressed concern, the Los Angeles Times reported.

In a statement, Jack Sinclair, executive vice president of the food business for Wal-Mart U.S., acknowledged that low-income people would have less money to spend on food, but suggested added that the company is “modestly optimistic that customers who are focused on price will turn to Wal-Mart as a solution.”