Shares for major food stocks—including Kraft Heinz, PepsiCo and Nestlé—declined in early trading on Friday, after Walmart’s chief executive warned earlier this week of “a slight change” in food purchasing habits for people taking Ozempic and other drugs used for weight loss.

Walmart president and chief executive Jeff Furner said in an interview with Bloomberg earlier this week that the company is seeing “a slight pullback in overall basket” for people who take Ozempic, Wegovy or other weight-loss drugs. The pullback has been “just less units, slightly less calories,” Furner said. Furner’s warning follows a report from Morgan Stanley in September, which indicated that weight-loss drugs will likely have a strong impact on grocery stores, as big box markets like Walmart and Target that sell “many product categories along with food will be better insulated.” Ozempic, Wegovy and other weight-loss drugs—which mimic a hormone that signals to the brain that a person is full—have grown in popularity in recent years. Markets Insider reported last month that food chains and companies producing junk food could be negatively affected by the growing weight-loss drug market because of a decreased appetite for unhealthy foods.

Sheila Kahyaoglu, an analyst for Jefferies Financial, estimated that United Airlines would save $80 million a year if the average passenger weight decreased by 10 pounds. This would trim about 1,790 pounds from every United flight, according to Kahyaoglu, which would save about 27.6 million gallons of fuel each year.

Walmart Exec Reportedly Says Ozempic Could Be Impacting Food Sales: ‘Slight Pullback In Overall Basket’ (Forbes)

Ozempic Is Making People Buy Less Food, Walmart Says (Bloomberg)