financetom
Business
financetom
/
Business
/
Higher egg prices drove up inflation, and Walmart grocery revenue
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Higher egg prices drove up inflation, and Walmart grocery revenue
Feb 20, 2025 10:30 AM

NEW YORK (Reuters) - Higher egg prices, an issue U.S. President Donald Trump spoke about often during his election campaign last fall, boosted Walmart ( WMT ) grocery revenue, the world's largest retailer said during its earnings briefing on Thursday.

Walmart ( WMT ) said its grocery revenue rose by mid-single digits in the quarter through January 31, and a Walmart ( WMT ) earnings presentation showed that egg-price inflation was baked into that increase. Egg prices have been rising as bird flu, or avian influenza, has hammered egg production in chickens.

"There will always be some anomalies like what we're seeing right now with eggs as a result of avian flu last fall," Walmart's ( WMT ) finance chief John David Rainey said on a call with Wall Street analysts.

"Those things tend to work themselves out over time, so we don't have a large inflation number planned into this year," he said, referring to Walmart's ( WMT ) outlook for its current fiscal year.

Walmart ( WMT ) caters to price-conscious shoppers courted by Trump, who are up in arms over the rising price of eggs after years of inflation fatigue.

Many Americans are now bracing for even higher prices on a wide range of items if Trump implements tariffs on goods from Canada and Mexico. In November, Walmart ( WMT ) said high tariffs "could lead to increased costs for our customers."

The virus has wiped out more than 156 million chickens, turkeys and other birds nationwide since an outbreak in poultry began in 2022. Losses of laying hens have slashed egg supplies, sending prices soaring and prompting retailers to restrict purchases and restaurants to raise prices.

U.S. diner chain Waffle House added a 50-cent surcharge for every egg in a customer's order with signs posted on their doors earlier this month warning customers about the increase.

Social media posts showed that retailers including Costco and Trader Joe's were restricting customers to purchasing only a limited number of egg packages due to the limited egg supply.

Costco and Trader Joe's were not immediately available to comment.

A website for a Wegmans store based in New York State showed that it currently allowed shoppers to buy up to 10 cartons of a dozen eggs or 18-count eggs, with a maximum of 180 eggs.

"With supply fluctuating nationwide, prices are rising due to avian bird influenza and strong demand," a notice on the website reads.

"While prices will continue to shift, we are committed to keeping our prices competitive."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Robinhood Markets Insider Sold Shares Worth $273,982, According to a Recent SEC Filing
Robinhood Markets Insider Sold Shares Worth $273,982, According to a Recent SEC Filing
Mar 7, 2025
05:57 PM EST, 03/07/2025 (MT Newswires) -- Jeffrey Tsvi Pinner, Chief Technology Officer, on March 05, 2025, sold 5,853 shares in Robinhood Markets ( HOOD ) for $273,982. Following the Form 4 filing with the SEC, Pinner has control over a total of 17,559 Class A common shares of the company, with 17,559 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1783879/000178387925000079/xslF345X05/wk-form4_1741387841.xml ...
BRIEF-Anew Health Files For Us IPO Of 5 Million Ordinary Shares
BRIEF-Anew Health Files For Us IPO Of 5 Million Ordinary Shares
Mar 7, 2025
March 7 (Reuters) - * ANEW HEALTH LTD - FILES FOR US IPO OF 5 MILLION ORDINARY SHARES * ANEW HEALTH LTD - IPO PRICE SET AT $4.00 PER SHARE * ANEW HEALTH LTD - APPLIES TO LIST ON NASDAQ UNDER SYMBOL 'AVERAGE' * ANEW HEALTH LTD SAYS D. BORAL CAPITAL IS UNDERWRITER TO U.S. IPO- SEC FILING ...
Dexcom receives FDA warning letter for two U.S. manufacturing facilities
Dexcom receives FDA warning letter for two U.S. manufacturing facilities
Mar 7, 2025
(Reuters) -Medical device maker Dexcom ( DXCM ) said it has received a warning letter from the U.S. Food and Drug Administration following inspections of its two key manufacturing facilities, sending its shares down nearly 7% after the bell. The warning letter identified issues in manufacturing processes and quality management system at Dexcom's ( DXCM ) facilities in San Diego,...
Avery Dennison Insider Sold Shares Worth $2,358,387, According to a Recent SEC Filing
Avery Dennison Insider Sold Shares Worth $2,358,387, According to a Recent SEC Filing
Mar 7, 2025
05:52 PM EST, 03/07/2025 (MT Newswires) -- Mitchell R Butier, Director, Executive Chairman, on March 06, 2025, sold 12,969 shares in Avery Dennison (AVY) for $2,358,387. Following the Form 4 filing with the SEC, Butier has control over a total of 307,554 common shares of the company, with 303,331 shares held directly and 4,223 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/8818/000112760225008773/xslF345X05/form4.xml ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved