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. The refunds helped boost Walmart’s profit, according to the company’s quarterly earnings. But the rosy picture on the income front was marred by slower U.S. same-store sales growth. Coming in at just 2.6%, it was the lowest Walmart has reported in years. Wall Street, which is accustomed to robust growth from Walmart, reacted swiftly to the lukewarm sales numbers, and the company’s stock plunged 9% Thursday morning. Shares of Walmart are down over 23% from the company’s recent high in May, and the company fell out of the $1 trillion club.The inflation rate in July was 3.4% from a year ago, a jump from the 2.4% inflation rate right before the war. Consumer prices are also outpacing wage increases, which grew at a rate of 3.2% last month. Do you think that capitalism is the worst business model against humanity ?
