walmart

Walmart directly debunks Trump's 'wildly inaccurate' claim

President Donald Trump has recently been claiming that retail chain Walmart is closing hundreds of stores in California. Now, the company is directly refuting him.

CNN fact-checker Daniel Dale reported Thursday that Trump spread several falsehoods in a late-night social media posting spree, making "wildly inaccurate and often conspiratorial claims." On two separate occasions, Trump posted a YouTube video entitled "California Governor PANICS as Walmart Shuts Down 250+ Stores Across State" to his Truth Social platform. The video asserted Walmart was unable to afford California's "$22" hourly minimum wage (California's hourly minimum wage is currently $16.90 for all employers, and $20 for fast food employees).

"This isn’t accurate information,” an unnamed Walmart spokesperson told CNN. "In fact, we actually just recently opened a new store in California."

California Governor Gavin Newsom (D), who is presumed to run for the 2028 Democratic presidential nomination, wrote on his own social media account that all of California's 303 Walmart stores remain open.

"We cannot believe we have to say any of this out loud. We cannot believe this is real life," Newsom said. "And we truly cannot believe this man has the nuclear codes."

CNN further reported that the YouTube account that claimed Walmart stores in California were closing also had a pattern of posting videos making conspiratorial claims about the California governor. But by Thursday morning, all of the anti-Newsom videos had been deleted.

According to Dale, Trump also made baseless claims on his Truth Social account that Wisconsin — which he narrowly lost to former President Joe Biden in 2020 — had millions more registered voters than it had adults residing in the state. However, the figure Trump cited is the number of inactive voters in the Badger State, which is the term for voters who have either died, moved out of the state, were convicted of a felony or purged from voter rolls due to inactivity.

'Not immune': Walmart confirms new tariffs will mean higher prices for customers

Walmart — the world's largest retailer — is now issuing a warning to customers that they may be paying more for the same products if President-elect Donald Trump makes good on his promise to impose new tariffs on imports.

Fortune reported Friday that Walmart's finance chief, John David Rainey, has acknowledged that new tariffs would likely be passed on to the people buying goods imported from overseas. Currently, anywhere from 70% to 80% of goods sold at Walmart are made in China, and could be affected by potential new tariffs. In September, PBS reported that Trump proposed tariffs as high as 60% on imports from China, and 20% tariffs on products made elsewhere.

"Tariffs are going to be inflationary, there’s no disputing that," Rainey said earlier this week.

READ MORE: How Trump's tariffs would 'aggressively transfer wealth from the poor to the rich: journalist

“We’re going to work with our suppliers as well as our own private brand assortment to continue to try to bring down prices for customers,” he added. “But we’re not immune, and tariffs will be inflationary for customers.”

While Trump has argued that a tariff is a tax imposed on a foreign country with no downside for Americans, the National Retail Federation (NRF) says that's not true. On the eve of Election Day, NRF vice president Jonathan Gold stated that unless exporters are willing to drop factory gate prices, tariffs will be paid with either higher import duties, higher prices or a combination of the two.

"A tariff is a tax paid by the U.S. importer, not a foreign country or the exporter," Gold said.

In September, journalist David Cay Johnston pointed out that if Trump's proposed tariffs become reality, it would incentivize American companies to raise prices far beyond what it would cost to cover the tariff in order to maximize profit margins. He warned that in this way, Trump's key economic proposal would "aggressively transfer wealth from the poor to the rich."

READ MORE: Trump's newest policy proposal would be a 'huge tax increase' for the middle class: analysis

Click here to read Fortune's report in full.

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Grocery chains rolling out new system that could let them change prices 'every 10 seconds'

If a new digital label system for grocery items becomes standard, the days of coupon-cutting and estimating prices of items in your cart may be a thing of the past.

According to a Wednesday report in NPR, Walmart is now rolling out a new digital labeling system that could let stores change prices "as often as every ten seconds." Grocery industry analyst Phil Lempert said the new digital labels would lead to rapidly fluctuating prices that could be a double-edged sword for customers.

"If it’s hot outside, we can raise the price of water and ice cream. If there's something that’s close to the expiration date, we can lower the price — that’s the good news," Lempert said.

READ MORE: Trump's proposals could 'send inflation skyrocketing': economists

Walmart has already started to introduce the new digital labels in some of its stores in Texas, with the goal of having them in 2,300 stores by 2026. The company said the new system allowed for quicker restocking of shelves, along with both "increased productivity and reduced walking time."

This model is similar to the "surge pricing" system that ride-sharing app Uber is known for, in which those looking to arrange transportation during peak hours can be charged more than for a typical ride. Fast food chain Wendy's faced a wave of backlash earlier this year after its CEO suggested a "dynamic pricing" model that would allow stores to use digital boards above registers that allow them to easily change prices on a whim.

Wendy's President and CEO Kirk Tanner said he hoped to earmark $20 million in order to "roll out digital menu boards to all U.S. company-operated restaurants by the end of 2025 and approximately $10 million over the next two years to support digital menu board enhancements for the global system."

However, after social media's intense reaction to the proposal, the company clarified that “Wendy’s will not implement surge pricing, which is the practice of raising prices when demand is highest."

READ MORE: Conservative admits Trump's policies 'would result in price spikes' for most Americans

"We didn’t use that phrase, nor do we plan to implement that practice,” a Wendy's spokesperson told NBC News. The spokesperson emphasized that there are currently “no plans” to raise prices during busy times.

Santiago Gallino, who is a retail management professor at the Wharton School of Business at the University of Pennsylvania, told NPR that he doubts grocery stores would risk angering their customer base by increasing prices with little to no notice.

“To be honest, I don’t think that’s the underlying main driver of this,” Gallino said. “These are companies that tend to have a long-term relationship with their customers and I think the risk of frustrating them could be too risky, so I would be surprised if they try to do that.”

READ MORE: (Opinion) Where the blame for high prices really belongs

Click here to read NPR's report in its entirety.

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