Walmart CFO Says They Don't Want To Raise Prices, But 'Prices Will Go Up For Consumers' Due To Upcoming Tariffs

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Walmart’s CFO, John David Rainey, recently said that if President-elect Donald Trump's proposed tariffs take effect, Walmart (NYSE:WMT) will need to raise prices on certain items. Speaking with CNBC, ...

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Our model is everyday low prices. But there probably will be cases where prices will go up for consumers.\". The average American couple has saved this much money for retirement — How do you compare?Can you guess how many Americans successfully retire with $1,000,000 saved?These proposed tariffs include a 10-20% tax on all imports and could go as high as 60-100% on products from China. Retailers like Walmart, AutoZone, Lowe's and others are already speaking out about how these potential changes could make everyday goods more expensive for customers.Many are using this retirement income calculator to check if they’re on pace — here’s a breakdown on how on what’s behind this formula.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1069347547.HKD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (HKD) INC","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","AZO":"汽车地带","LU0861579265.USD":"联博低波幅策略股票基金A","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0128526141.USD":"TEMPLETON GLOBAL SMALLER COMPANIES \"A\" ACC","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","WMT":"沃尔玛","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","LU0080751232.USD":"富达环球多元动力基金A","BK4515":"5G概念","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","BK4534":"瑞士信贷持仓","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (SGDHDG) INC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","COLM":"哥伦比亚户外","LU0109392836.USD":"富兰克林科技股A","DLTR":"美元树公司","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","BK4575":"芯片概念","BK4566":"资本集团","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1582987597.SGD":"M&G (LUX) INCOME ALLOCATION \"A-H\" (SGDHDG) INC","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0029874061.USD":"TEMPLETON GLOBAL SMALLER COMPANIES \"A\" YDIS INC","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC"},"translate_title":"沃尔玛首席财务官表示，他们不想提高价格，但由于即将征收的关税，“消费者的价格将会上涨”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WMT":1,"COLM":1,"DLTR":1,"AZO":0.9},"content_text":"Walmart’s CFO, John David Rainey, recently said that if President-elect Donald Trump's proposed tariffs take effect, Walmart (NYSE:WMT) will need to raise prices on certain items.\nSpeaking with CNBC, Rainey explained, \"We never want to raise prices. Our model is everyday low prices. But there probably will be cases where prices will go up for consumers.\" \nDon't Miss:\n\nThe average American couple has saved this much money for retirement — How do you compare?\nCan you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you.\n\nThese proposed tariffs include a 10-20% tax on all imports and could go as high as 60-100% on products from China. Retailers like Walmart, AutoZone, Lowe's and others are already speaking out about how these potential changes could make everyday goods more expensive for customers.\nThe majority of goods Walmart sells are not at risk of tariffs, as about two-thirds of the items sold by Walmart are made, grown or assembled in the U.S. However, tariffs may have a major effect on the remaining one-third of imported goods. In recent years, Walmart has been expanding its supply chain by sourcing from other countries to lessen its reliance on China.\nLowe's CEO Marvin Ellison also expressed concern, saying they're talking to suppliers to understand how the tariffs might affect prices.\nTrending: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest TODAY for just $0.26/share with a $1000 minimum.\nOther companies are also taking measures to deal with the tariffs. AutoZone (NYSE:AZO) CEO Philip Daniele, for example, has recently stated that if tariffs are imposed, they will pass those costs onto the consumers. Because AutoZone anticipates the impact on their margins, they even plan to hike prices before the tariffs go into effect. Similarly, Steve Madden intends to shift some of its production to Vietnam, Cambodia and Mexico to lessen its dependency on Chinese production, though price increases are still possible.\nColumbia Sportswear (NASDAQ:COLM) has also raised concerns, with CEO Tim Boyle mentioning that the company may also have to raise prices. The National Retail Federation also predicted price rises for commonplace goods like apparel, shoes and furniture, warning that these tariffs essentially tax the American people. They anticipate that a $100 coat may increase by up to $21, while a $90 pair of sneakers might cost between $106 and $116.\nDollar Tree (NASDAQ:DLTR), which imports many of its products from China, may have to rethink its fixed-price-point model of $1.25 per item if tariffs push costs too high. This could jeopardize the retailer’s value-focused business strategy by forcing it to either absorb the additional expense or pass it on to customers.\nRead Next:\n\nMany are using this retirement income calculator to check if they’re on pace — here’s a breakdown on how on what’s behind this formula.\nStudies show 50% of consumers think Financial Advisors cost much more than they do — to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.\n\nUNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.\nGet the latest stock analysis from Benzinga?\n\nAPPLE (AAPL): Free Stock Analysis Report\nTESLA (TSLA): Free Stock Analysis Report\n\nThis article Walmart CFO Says They Don't Want To Raise Prices, But 'Prices Will Go Up For Consumers' Due To Upcoming Tariffs originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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