Walmart May Raise Prices in Stores Due to High Fuel Costs
· Telemundo McAllen (KTLM)
Walmart warned on Thursday that it may increase retail prices in the coming months to offset rising fuel costs resulting from the war with Iran. The chain reported overall positive results for the first quarter, with revenues rising 7.3% to $177.8 billion and comparable sales in the U.S. growing 4.1%, partly driven by e-commerce and membership income. However, the increase in fuel prices significantly impacted Walmart's profits. The company stated that it absorbed $175 million in higher-than-expected fuel costs during the quarter. 'These are real impacts on the cost of goods sold for us and our suppliers,' said Walmart's Chief Financial Officer, John David Rainey, during a call with Wall Street analysts on Thursday. 'If the current high-cost environment persists, we would expect somewhat higher retail price inflation in the second quarter and the second half of the year.'
AI summary · Source: Telemundo McAllen (KTLM) →
