Walmart reported The consequences of solid quarter On Thursday, but noted that it had to raise prices soon. Is the retailer The largest in the US With More than 4,600 locations.
Walmart’s CEO Doug McMeeln said on a Thursday’s income call This Walmart was unable to absorb “more costs”, given the reality of a tight retail margin. “
“Even at a low level, prices will result in high prices, McMelan said on the call.”
In response, Walmart’s chief financial officer John David Raine Told Cnbc In an interview on Thursday, tariffs were “still a lot” to absorb the cost for the company. Renny warned that Walmart’s buyers could start seeing higher prices on some goods at the end of the month, and more prices at widespread prices from next month.
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“We are wired for low prices daily, but the severity of them is higher than the absorption of any retailer,” said Renee. Cnbc. “So I am concerned that the user will start to see more prices. You will start to see it, possibly towards the end of this month, and then definitely more in June.”
Earlier this week, America Agreed this week To reduce its maximum tariff rate on China from 145 % to 30 % for the next 90 days. Is china Decrease Its 125 % tariff on US products is up to 10 % on US products for the same time. Meanwhile, the US has imposed on a 10 % Universal tariff On almost all imports.
Walmart’s executives Described in an investor event In April, two -thirds of retailers’ goods in the United States, including grocery, were developed, growing, or domestic. The remaining third products of Walmart come from other countries, especially China China and Mexico.
Rainy told Cnbc On Thursday, Walmart is still cooperating with shopkeepers to keep prices low. He added that Walmart has not yet canceled any suppliers order, but has reduced some in response to trade policies.
Walmart CEO Doug Mac Millen. A photo of ethan miller/getty images
Walmart is not the only larger retailer who recently warns consumers about the rise in prices. Target CEO Brian Cornell Told buyers In March, food prices may increase, especially on the production of Mexico. Costco CEO Ron Wacharis said last month that retailers are working to reduce the impact of revenue on consumers and one -third of it is imported from other countries in the United States.
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Votage Raded On Thursday, its first quarter revenue, reporting that the US store sales rose 3.2 percent year to $ 112.2 billion. Walmart’s total global income has won $ 165.6 billion in its first quarter, which is 2.5 percent higher than the same time last year. The retail giant reports that health and fitness products and grocery products have promoted the power of sales.
Compared to the same time last year, the company’s US e -commerce businesses had a particularly 21 % increase and made a profit for the first time.
Walker 1 681 billion In 2024, make it The largest retailer in the world Revenue based on this is expected to increase revenue 3 % to 4 % This year
Walmart reported The consequences of solid quarter On Thursday, but noted that it had to raise prices soon. Is the retailer The largest in the US With More than 4,600 locations.
Walmart’s CEO Doug McMeeln said on a Thursday’s income call This Walmart was unable to absorb “more costs”, given the reality of a tight retail margin. “
“Even at a low level, prices will result in high prices, McMelan said on the call.”
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