Walmart reported solid quarterly results on Thursday, but noted that it would soon have to start raising prices. The retailer is the biggest in the U.S. with over 4,600 locations.
Walmart CEO Doug McMillon said on a Thursday earnings call that Walmart wasn’t able to “absorb” higher costs “given the reality of narrow retail margins.”
“Even at the reduced levels, the higher tariffs will result in higher prices,” McMillon said on the call.
In response, Walmart’s Chief Financial Officer John David Rainey told CNBC in an interview Thursday that tariffs were “still too high” for the company to absorb the cost. Rainey cautioned that Walmart shoppers could begin seeing higher prices