Walmart warns of price hikes amid rising tariff costs: ‘given the magnitude of the tariffs, we aren’t able to absorb…’

Walmart has said it will raise prices later this month because of higher tariffs, even though its U.S. sales in the first quarter were better than expected. According to a Reuters report, John David Rainey, Walmart’s Chief Financial Officer, told CNBC that shoppers will start seeing price increases by the end of May and into June.

In a statement, CEO Doug McMillon said “We will do our best to keep our prices as low as possible but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins”.