President Trump says Walmart will lower prices by ‘a lot’ — but the retail beast has already been slashing prices
Brian Sozzi· Executive Editor
Tue, July 7, 2026 at 5:52 PM GMT+5:30
3 min read
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Walmart (WMT) continues to cut prices this summer and has apparently let the president know it is doing so
“Great news! I have just been informed that one of the biggest, best, and smartest Retailers in America, Walmart, will be lowering prices, by a lot, at my Administration’s request to celebrate our great Country’s 250th birthday,” President Trump wrote in a post on Truth Social on Monday
“Walmart will, in particular, be dropping the price for a pound of ground beef by almost 15%, among many other products,” the president added. “This is a huge deal for the many millions of Americans who, smartly, shop at Walmart, which is a truly patriotic Company who loves the U.S.A.”
A Walmart spokesperson confirmed the price cuts to Yahoo Finance
In reality, Walmart has already kicked it up a notch on the price cut front in recent months to gain more market share from rivals like Target (TGT)
Walmart had 7,200 “rollbacks” across the business in the first quarter. Rollbacks is the term Walmart uses to convey price cuts to its shoppers. About half of those rollbacks were in food
“We are taking advantage of the [tariff] refund process,” Walmart CFO John David Rainey told Yahoo Finance in a late May interview (see video above). “We hope to see those come in more through the quarter. It’s not currently included in any of our guidance because the timing and amount of that is uncertain. But to be very clear, the single best return that we can get on a dollar of capital right now is investing in the customer. So we’re going to prioritize price investment with our customers.”
He added, “Competition is nothing new to us. We like where our price gaps are right now, but those are dynamic. Those move around all the time. And we’re going to be competitive. We’re going to be aggressive. We’re going to be front-footed as we have been for several quarters. It’s not just about value or low prices.”
Walmart’s leadership on price has helped it continue to post top-tier financial results while others have struggled
Walmart delivered a highly resilient performance in the first quarter amid surging gas prices, generating total revenue of $165.6 billion, a 2.5% increase (4% in constant currency) over the previous year. Global e-commerce sales surged 22%, thanks to the ongoing popularity of store-fulfilled pickup, home delivery, and its expanded online marketplace
Operating income outpaced sales growth by rising 4.3%
In the closely watched US segment, comparable sales excluding fuel grew by a solid 4.5% as value-conscious shoppers across multiple income demographics increasingly relied on Walmart for grocery and daily essentials
