Walmart expanded profit margins and could likely absorb any tariff impacts, former Walmart CEO Bill Simon seemed to suggest, as polling shows that some U.S. consumers — particularly swing voters — are worried companies will use tariffs as an excuse to rip off consumers.
Simon made the remark during an appearance on CNBC on Thursday, as host Melissa Lee remarked, “Ninety percent of Americans are customers of Walmart. Should we expect price increases?”
“Because you say that Walmart really theoretically should be able to absorb a lot of the cost of the tariffs. Why is it announcing price increases?” she asked.
“Well, I think they’ll probably raise prices episodically on certain items,” Simon responded, noting that Walmart actually grew its gross profit margin
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