Walmart could be eligible for tariff refunds worth roughly $2.4B, or less than half of 1% of its U.S. annual sales, and CFO John David Rainey said the company would prioritize using that money to lower prices for shoppers. The comments came during Walmart's fiscal 2027 first-quarter earnings call. Rainey cited pressure on consumers from fuel prices and said investing in price is the best return on capital available right now. U.S. Customs and Border Protection began accepting refund claims last month tied to tariffs the Supreme Court struck down in February, and had processed $35.46B in refunds, including interest, as of May 11. Walmart excluded any expected recoveries from its outlook. Q1 revenue hit $177.8B, up 7.3% year over year, though higher fuel costs cut about $175M from operating income in its distribution and fulfillment operations.
