Walmart Says Customers Will Pay More After Trump's Tariffs
- ‘Increased tariffs lead to increased prices,’ CFO Biggs says
- Grocery, health-care products boosted results in latest period
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Walmart Inc. advanced after meeting sales estimates and indicating that shoppers will absorb some of the costs from President Donald Trump’s tariffs on Chinese imports.
Comparable sales for Walmart stores in the U.S. climbed 3.4% in the first quarter, its best for the period in nine years. Sales of groceries -- Walmart’s biggest business -- fueled the increase, and a later-than-usual U.S. flu season boosted health and wellness products. The shares rose as much as 4.1% Thursday in New York, the biggest intraday gain in almost three months.