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The overall segment saw net sales increase 7%, driven by increased prices. Shares of J.M. Smucker are up more than 18% from last year, but down slightly, 6.3%, year-to-date.
“For example, 43.5-ounce Folgers Classic roast ground coffee costs $12.99 at Costco,” he said. “At Walmart, the same product costs $21.45, or 65% higher.” More From GOBankingRates
The Consumer Price Index report released Wednesday showed that the prices consumers paid for roasted coffee rose 2.5% in January over the previous year, while instant coffee jumped 7.1%.
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A Walmart spokesperson told Fortune that any price changes are speculative at this point, but future tariff-induced cost increases would be an additional burden to already price-sensitive shoppers.
Walmart saw first-quarter sales at stores open at least a year climb 3.8% from the prior year, in part thanks to its ability to keep prices low even as inflation remains sticky. The largest ...