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Walmart's CFO, John David Rainey, said higher tax returns helped offset the effect of elevated gas prices in the first quarter.
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Now that the U.S. government must refund most tariffs, Walmart says it might put its refund money toward lowering store prices. Executives say the cost of gas has shoppers increasingly under stress.
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The nation's largest retailer reported a rise in sales, but consumers are seeking out low-price items and cutting back in some categories, a potentially worrying sign for the U.S. economy.
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