Walmart Inc said on Thursday that prices for shoppers will rise due to higher ta...
- Walmart Inc said on Thursday that prices for shoppers will rise due to higher tariffs on goods from China as the world’s largest retailer reported its best comparable sales growth for the first quarter in nine years.
Moody’s analyst Charlie O’Shea said the potential impact on Walmart and its shoppers from tariffs is limited by its food business. Its grocery operation, which includes fresh food, contributes roughly 56 percent to overall revenue. “It’s not just tariffs. Transportation costs are up, labor costs are up. It’s an inflationary environment,” Del Monte CEO Greg Longstreet told Reuters on the sidelines of a conference. “A lot of that’s going to have to be passed on. The consumer is going to have to pay more for a lot of critical goods.”FILE PHOTO: A Walmart logo is displayed above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., August 16, 2018.
Walmart said it will cost the company less than for two-day shipping since orders will come straight from warehouses closer to the customer and arrive in a single box rather than multiple packages.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Walmart is a test of broader tariff harmThe retailer reported U.S. sales rose 3.4%, yet momentum could wane once higher border levies on another $200 bln of imports from China kick in. Walmart may not be the most exposed business, but Americans shopping at its more than 5,300 stores will feel it in their pockets.
Read more »
Walmart says higher tariffs on China goods will increase prices for U.S. shoppersWalmart said the company will also try to obtain products from different countries and work with suppliers to blunt the impact of higher tariffs.
Read more »
Cashing out in Uber's IPO: China, Russia and the Middle EastIn 2015, Uber Technologies Inc went on a fundraising spree in China, tapping ven...
Read more »
As Trump fights with China over trade, U.S.-China economic relationship already being redefinedThe trend of U.S. companies serving Chinese consumers with products made in China could pose a significant challenge to Trump’s “America First” agenda
Read more »
US tariffs on China jump as deadline passes, China immediately says it will retaliateThe Trump administration is hiking duties on $200 billion worth of Chinese products to 25% from 10%.
Read more »
China's Sinopec, CNPC skip Iran oil buys for May as U.S. sanctions waivers end: sourcesChina Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC...
Read more »
Sinopec, CNPC skip Iran oil purchases for May to avoid U.S. sanctionsChina Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC...
Read more »
China opposes U.S. move to blacklist telecom giant HuaweiChina says opposes unilateral sanctions against its entities, as U.S. blacklists Huawei
Read more »
China slams U.S. blacklisting of Huawei as trade tensions riseChina on Thursday slammed a decision by the U.S. government to put telecom equip...
Read more »