Justice Department expands beef price probe to eight retailers

Costco reported August net sales of $23.70B, up 9.9% YoY, with comparable sales growth of 8.4%. Q4 net sales rose 11.3% to $93.9B, and fiscal year sales increased 10.2% to $297.3B. U.S. comparable sales grew 9.0%, while digital sales surged 17.9%. Shares gained 0.095 to $929.27 in overnight trading.

The DOJ is expanding its investigation into major grocers, including Kroger, Walmart, and Amazon, over rising beef prices. The issue stems from supply-demand imbalances and tariffs, not grocer pricing practices. Short-term relief may come from suspended tariffs on imported beef, but long-term solutions require rebuilding U.S. cattle herds.

The U.S. Justice Department expanded its beef price probe to include eight retailers, including Walmart, Costco, and Amazon, investigating potential price manipulation. The investigation follows President Trump's accusations against meatpackers and a $82.5 million settlement by Tyson Foods over beef price inflation claims.

Walmart is using a $2.9 billion tariff refund to lower prices on 11,000 items, including groceries and general merchandise, across its retail stores, Sam's Club, and digital platforms. The company views this as a long-term investment in customer loyalty, even if it pressures short-term profits. Walmart's CFO, John David Rainey, announced this during the latest earnings call, according to CBS News.

The Department of Justice has expanded its investigation into rising beef prices to include eight major grocery chains: Costco, Kroger, Publix, Walmart, Albertsons, Aldi, Amazon, and Ahold Delhaize USA. The probe follows a 10% increase in beef prices over the past year, according to the Bureau of Labor Statistics.

The DOJ expanded its beef-price antitrust probe to include retailers like Walmart, Costco, and Amazon. The investigation, initially focused on meatpackers, now covers eight retailers. Walmart, despite lowering beef prices, is a target. The probe follows President Trump's accusations of price manipulation. Beef demand is rising while cattle herds are at a 75-year low, potentially keeping prices elevated.