Walmart on Wednesday promised to keep prices low despite President Donald Trump's tariffs.
"History tells us that when we lean into these periods of uncertainty, Walmart emerges on the other side with greater share and a stronger business," Chief Financial Officer John David Rainey said ahead of the retailer's investor meeting in Dallas.
Walmart, the world's largest retailer and the biggest U.S. importer of containerized goods, "is not immune to some of the effects" of the tariffs in the short term, CEO Doug McMillon said.
"We are positioned to play offense," he added.
"Nothing about the current environment impacts our confidence in our business or our strategy."
The company's shares, which have fallen nearly 9% since the announcement of a raft of tariffs on April 2, rose about 5% on the outlook. The shares later went up by 8%, in line with the broader market, after Trump set a 90-day delay on tariffs.
About 60% of Walmart's imports are from China, while Vietnam remains one of its top five suppliers, according to a Reuters report in November 2023.
"We've learned how to manage through turbulent periods," McMillon said.
"And while we don't know everything that is going to happen ... we do know what our priorities are, and we know what our purpose is, and we'll be focused on keeping prices as low as we can," he said. "And we'll focus on managing our inventory and our expenses well."
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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