Instant Alert: There's a looming threat facing America's biggest grocers

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   There's a looming threat facing America's biggest grocers by Mary Hanbury on Jun 30, 2017, 11:03 AM Advertisement Of every $5 spent using food stamps, $1 is spent at Walmart. So if the Trump administration gets its way, cuts to the Supplemental Nutrition Assistance Program could have dire consequences on Walmart and other large grocers where food stamp recipients shop.  Trump's budget plan proposes to cut $191 billion from SNAP over the course of a decade, CNBC reported.  The program, which currently serves around 42 million people, provides its claimants with, on average, $252 per month, according to CNBC. But the Trump administration's proposed cuts, which would come into action between 2018 and 2028, would now bring this amount down to $173 a month. According to research done by consultancy firm AlixParnters, and reported by CNBC, these cuts could cost the retail sector $70.7 billion. A $57.5 billion loss would hit the grocery sector.  AlixPartners said that Walmart, Target, Aldi, Kroger, and Kmart are expected to be hit hardest.  Food stamp cuts could cost Walmart $12.7 billion in sales over the next decade, or $1.27 billion a year. Target could see a loss of between $4.8 billion and $5.3 billion in sales.  Aldi, the European grocery chain that has outlined expansion plans to become the third-largest supermarket chain in the US after Walmart and Kroger, is also expected to suffer, costing it an estimated $4.4 to $4.9 billion in sales.    Share the latest business news with your network:    Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011