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Story summary
- Walmart received nearly $3 billion in tariff refunds and will use the funds to lower prices.
- CFO John David Rainey said the refunds added a 750-basis-point net benefit to operating income.
- Adjusted operating income rose roughly 17% on a constant-currency basis in the quarter.
- Total revenue increased 5.9% to $187.94 billion, with U.S. comparable sales up 2.6%.
- The company raised its annual outlook to 4%-5% net-sales growth and adjusted EPS $2.80-$2.87.
