Walmart hikes full-year outlook, says it will use huge tariff refund to keep prices low
· Business · CNBC, NBC News, Fortune
Walmart reported a 5.9% revenue increase for its fiscal second quarter, driven by a 23% jump in global e-commerce sales. The retail giant raised its full-year sales growth forecast to between 4% and 5%, up from its previous guidance of 3.5% to 4.5%. CFO John David Rainey confirmed the company is eligible for $2.9 billion in tariff refunds and intends to use these funds to lower prices for consumers starting in the third quarter. Despite this growth, U.S. comparable sales rose 2.6%, falling short of the 3.5% increase expected by Wall Street. The company noted that it continues to face cost pressures from higher fuel prices, which it expects will reach over $2 billion this year.
Why it matters
Walmart's decision to pass tariff refunds to consumers through lower prices could provide relief to shoppers facing high food and fuel costs, while also helping the retailer maintain its market share in the U.S.
Read the original report — CNBC
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