Walmart (NYSE: WMT) had bad news for investors on July 25. The company said it is slashing prices to move products that customers no longer desire. One category in particular it called out as falling out of favor: apparel.  

It's certainly bad news for Macy's (NYSE: M) shareholders to hear that consumers are pulling back on buying clothes. The category is a large percentage of Macy's overall sales, so the update from Walmart is concerning, to be sure. Let's look closer. 

Here is the full comment from Walmart CEO Doug McMillon in the press release on July 25:

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Source Fool.com