Walmart shoppers should prepare to shell out a little more on a wide array of products.
Chief Financial Officer Brett Biggs made the announcement this week. Prices are set to rise across U.S. stores thanks to President Donald Trump’s tariffs on imported goods from China.
“We’re going to continue to do everything we can to keep prices low,” Biggs said. “That’s who we are. However, increased tariffs will lead to increased prices, we believe, for our customers.”
The CEO of Macy’s made a similar prediction.
“When you do the math, it’s hard to find a path through that wouldn’t impact customers,” Jeff Gennette said.