Walmart to lower prices using $2.9 billion tariff refund
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Retailers and other major corporations have reported tariff refunds have significantly boosted their bottom lines.
Walmart says it has received nearly $3 billion in tariff refunds — and used some of that windfall to cut prices for consumers strained by inflation.
Shares of Walmart ( WMT +0.10%) saw their worst one-day drop since 2022 after the retailer said it would use its approximately $2.9 billion in tariff refunds to lower prices for consumers, which would negatively impact its third-quarter results.