Walmart, the world’s largest retailer, is still shielding customers from most of the price increases spurred by President Trump’s tariffs on an array of overseas goods, including shipments from China.
While the Bentonville, Ark.-retailer acknowledged charging more for some merchandise, which pushes total bills at the checkout counter higher, “we’re not seeing a great deal of inflation,” Chief Financial Officer Brett Biggs told investors on Tuesday. “I would call it fairly modest at this point when you look at what we’re doing from a pricing perspective.”
The company’s supply costs rose 3.2 percent to $385.3 billion in the year through Jan. 31, according to financial data disclosed Tuesday, helping drag profit down to $6.67 billion.
Its executives are keeping a wary eye on Trump’s negotiations with China, which exports more than $500 billion in goods to the U.S., as a March 1 deadline nears to conclude talks with Beijing. “We will actively manage pricing and margins as warranted with our customers and shareholders in mind,” Biggs said.
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Walmart shielding shoppers from most tariff-based price increases https://t.co/G9zncFfppt
— Washington Examiner (@dcexaminer) February 19, 2019
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