Walmart CFO John David Rainey has expressed his opposition to tariffs, stating that even with a reduction in tariffs on imports from China to 30% for 90 days, the current rate is “still too high.”
Today, the company reported a 2.5% increase in revenue year over year; however, it declined to provide guidance for earnings per share or operating income growth for the following quarter because of “fluctuating U.S. tariff policy.”
Speaking to the media following the earnings announcement, Rainey stated, “We’re wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb. It’s more than any supplier can absorb. And so I’m concerned that consumer is going to start seeing higher prices. You’ll begin to see that, likely towards the tail end of this month, and then certainly much more in June.”
This quarter, the company announced its first profitable period for its e-commerce operations, both in the U.S. and internationally.
Walmart’s shares have risen by 7% in 2025.
By CEO NA Editorial Staff
