Walmart plans to return billions in (unjustified) fees in the form of lower prices

Walmart is raising its guidance for the current fiscal year, despite the weakest growth in more than six years. The world’s largest retailer now plans to use nearly $2.9 billion in refunded import duties to lower prices for consumers.

Stores lose revenue

Walmart’s comparable sales rose 2.6% in the United States last quarter. Not only is that the lowest growth since late 2019, but the increase came entirely from online operations: brick-and-mortar stores actually saw their sales decline by 2.5%.