Retail giant Walmart is known for low prices, but those prices are about to go up. On its latest earnings call, CEO Doug McMillon and CFO John David Rainey warned that the company cannot absorb all the cost increases resulting from President Trump’s tariffs, even after some rates were reduced following negotiations. The executives said Walmart will begin raising prices on certain products as early as the end of May, with more noticeable increases expected in June.
“The level of tariffs that result from those discussions and the timing of when they ultimately become final may cause larger swings in our financial performance from one quarter to the next,” Rainey said on the May 15 call.
