Walmart experienced a strong first quarter, reporting revenues of $168 billion, a 4% increase from last year. This growth is attributed to shoppers accelerating purchases in anticipation of tariff-related price hikes. CEO Doug McMillon noted the dynamic environment, highlighting an increase in customer engagement and traffic. Foot traffic rose 4.5% in April, suggesting recovery from previous lows. CFO John David Rainey warned of inevitable price increases due to steep costs that retailers can't absorb, signaling potential inflation. Additionally, revenue from membership programs surged nearly 15%, showcasing Walmart's expanding service offerings.
We're wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb.
We delivered a solid first quarter in a dynamic operating environment. We're serving customers and members in more ways, which is fueling our growth.
Collection
[
|
...
]