Walmart (NYSE: WMT) had bad news for investors on July 25. It's certainly bad news for Macy's (NYSE: M) shareholders to hear that consumers are pulling back on buying clothes. Macy's may need to offer discounts to compete Here is the full comment from Walmart CEO Doug McMillon in the press release on July 25: The increasing levels of food and fuel inflation are affecting how customers spend, and while we've made good progress clearing hardline categories, apparel in Walmart U.S. is requiring more markdown dollars.