Walmart (NASDAQ:WMT) plans to use expected U.S. tariff refund payments to lower consumer prices starting in the third quarter, CFO John David Rainey said.
Rainey said the retailer was eligible for roughly $2.9 billion in tariff refunds and has received all but about $100 million of it, with the money funding price cuts in the third quarter.
Walmart’s Sales Growth Slows
Despite the tariff refunds, Walmart’s U.S. sales growth has hit its weakest pace since 2020.
The retailer reported second-quarter sales of $187.9 billion, surpassing estimates, but issued third-quarter guidance below expectations. The company cited a 125-basis-point headwind from pharmacy deflation due to new fair price regulations.
