Walmart resisting price hikes

Asked about pricing pressures created by tariffs on products coming into the U.S. from Mexico, in particular fresh produce, Walmart CEO Doug McMillon responded that the company will hold the line as long as it can.

“We don’t want to have prices go up on those fresh items for customers,” McMillon told CNBC’s Courtney Reagan. “We’re going to resist it as long as we can.” The company will seek alternate suppliers if it has to in order to maintain pricing, or will adjust pricing or cut costs elsewhere if need be, he added.

McMillon made his comments as he responded to media questions at the end of Walmart’s 2019 shareholders’ meeting in Bentonville, Arkansas.

Watch the video report here.


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