We will do our best to keep our prices as low as possible, but given the scope of the tariffs, even at the now reduced levels, we cannot handle the higher cost pressure, says CEO Doug McMillon in connection with the American retail giant releasing its quarterly report.
The tariffs against China are still too high, which particularly affects prices of toys and home electronics, according to Walmart.
Even the tariffs against smaller countries such as Costa Rica, Peru, and Colombia affect prices in Walmart's stores, on goods such as bananas, and roses, according to McMillon.
The quarterly profit fell twelve percent to 4.5 billion dollars, compared to the same period last year, while revenues increased by 2.5 percent to 166 billion dollars.
