business / news / / The Independent
Rising fuel costs had resulted in a $175 million hit to the retail giant’s operating income, Chief Financial Officer John Rainey said.
Walmart expects to raise retail prices if elevated fuel costs persist into Q2 and beyond.
KEY POINTS
- Rising fuel costs have caused a $175 million reduction in Walmart's operating income.
- For the first time since 2022, average gallons per customer at Walmart fuel stations fell below 10.
- Higher-income Walmart customers are now shopping non-food items more frequently amid fuel price pressures.
COMPANIES
Summarized by Newsio from The Independent. How we summarize →