despite this week’s agreement between the US and China to reduce punitive tariffs… Walmart will try to keep food prices in check after years of food inflation, McMillon said. But he said there are new tariff pressures for products it has to import, such as bananas from Costa Rica and coffee from Colombia…
McMillon’s warning on Thursday came as Walmart reported a 4.5 per cent annual increase in comparable sales in its eponymous US business in the three months to the end of April, surpassing the 3.7 per cent increase expected by Wall Street analysts, according to Visible Alpha… Mexico, Canada, Vietnam and India are Walmart’s main sources of imports, along with China…
Walmart reported that its e-commerce business – which includes sales from its own inventory and from third-party merchants using its platform – grew 22% year-on-year and was profitable both in the US and globally for the first time. Trade war jitters prompted shoppers to accelerate purchases of certain items in an effort to beat tariffs, potentially distorting the picture of consumer demand
