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Retail goliath Walmart on Thursday said it plans to raise prices this month and early this summer, when tariff-affected merchandise hits its store shelves. Some prices already have increased.
“The magnitude and speed at which these prices are coming to us is somewhat unprecedented in history,” Walmart Chief Financial Officer John David Rainey said in an interview.
Walmart, which counts 90% of Americans as customers, is the biggest company so far to signal that tariff-related price increases on everyday goods are coming. Other companies also have announced price increases. Ford Motor last week said it would raise prices on three of its popular vehicles. Birkin handbag maker Hermès said prices in the U.S. would rise. Next week, Target, Lowe’s and Home Depot are set to report earnings and discuss their financial forecasts.
The full impact of tariffs hasn’t yet hit retailers’ shelves in part because many companies stockpiled goods ahead of the tariffs or postponed shipments from China. So far, the economic impact of tariffs has been muted in the U.S., with unemployment and inflation holding steady.
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