- Walmart could be eligible for tariff refunds worth less than half of 1% of its U.S. annual sales, or about $2.4 billion, which could be used to support lower prices for shoppers, CFO John David Rainey said Thursday.
- The comments came during Walmart’s earnings call for its fiscal 2027 first quarter ended April 30. Rainey said Walmart would “definitely bias and try to prioritize” using any tariff refunds toward price cuts, citing pressure on consumers from fuel prices as a factor.
- “We think the single best return that we can have on a dollar capital right now is to invest in the customer and invest in price,” he said.
U.S. Customs and Border Protection last month began accepting claims from businesses for refunds tied to tariffs that were struck down by the U.S. Supreme Court in February.
In a court filing, the agency said it had processed $35.46 billion in refunds, including interest, as of May 11. More than 15 million entries, including those that have gone through to refund, have been validated, the filing said.
Walmart ties expected tariff refunds to price strategy amid cost pressures | Retail Dive