Walmart CEO John Furner said Wednesday that rising fuel costs are placing increasing pressure on consumers, with lower-income households showing growing signs of financial strain.

Speaking to reporters during Walmart’s shareholder week in Bentonville, Arkansas, Furner said the retailer continues to attract higher-income shoppers, who are visiting stores more frequently and spending more. At the same time, Walmart is seeing evidence that lower-income customers are becoming more cautious with their spending.

“We do continue to see the higher-income customers coming to Walmart,” Furner said. “We’re meeting more of them, they’re buying more, they’re coming more frequently. … And then we’ve seen some more signs of stress at the lower income levels.”

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Walmart CEO John Furner (right) and Dan Bartlett, executive vice president, Corporate Affairs, Walmart Inc., speak at the Walmart headquarters in Bentonville, Arkansas, on Wednesday, June 3, 2026. (FOX Business)

One indicator comes from Walmart-owned Sam’s Club. According to Furner, Sam’s Club members are averaging about 9.8 gallons per fuel purchase, while filling up more often, suggesting shoppers are managing their budgets as gas prices remain elevated.

“That’s really the stress point — is the price of fuel,” Furner said.

Despite those challenges, Furner said Walmart remains well-positioned to serve customers through its broad merchandise assortment and low-price strategy.

“Walmart’s set up really well in any kind of economy,” he noted.

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Customers shop at a Walmart store on May 13, 2026, in Chicago, Illinois.  (Scott Olson/Getty Images / Getty Images)

During the most recent quarter, the retailer rolled back prices on roughly 7,200 items, an increase from a year ago.

“I think we’ve done a really good job keeping our prices low in the quarter,” Furner said. “We had 7,200 rollbacks, that’s up from a year ago. We did that while maintaining and growing our gross margin.”

The comments came during Walmart’s annual shareholder week, which draws executives, investors and media to Northwest Arkansas each year.

U.S. consumer confidence dipped slightly in May as concerns about rising gas prices and inflation outweighed growing optimism about the labor market, according to Reuters. The reading, however, came in above economists’ expectations, providing some balance to the otherwise cautious consumer outlook.

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An “Associates Week” sign is displayed at a Sam’s Club store in Bentonville, Arkansas, on Wednesday, June 3, 2026. (FOX Business / Fox News)

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Last month, Walmart warned that higher fuel costs could add pressure on shoppers, particularly as the temporary boost from tax refunds fades and inflation continues to outpace wage growth.

“I think higher tax returns muted some of the pressure related to higher fuel prices and as we’re in a period of time right now where those tax refunds are largely not coming in, I think consumers are going to feel more of that pressure from higher fuel prices,” Walmart CFO John David Rainey told CNBC following the company’s first-quarter earnings report.

“It’s something that we’re keeping a close eye on,” he added.

FOX Business’ Kristen Altus and Reuters contributed to this report.

American Airlines is temporarily suspending six domestic routes this summer as elevated fuel costs linked to the Iran conflict continue to pressure carriers across the airline industry. 

The major air carrier said the affected routes will be paused only during August and September and emphasized that no routes are being eliminated permanently, according to FOX 5 New York. 

A separate report from Simple Flying said the routes will be out of service from Aug. 5 through Oct. 5. 

“American has seasonally adjusted service on select routes in August and September as the airline refines its capacity growth for 2026,” American said. 

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An American Airlines airplane approaches Miami International Airport for landing in Miami, Florida.  (Ronen Tivony/NurPhoto via Getty Images / Getty Images)

According to Simple Flying, the affected routes include: 

• Los Angeles (LAX) to Cleveland (CLE)
• Los Angeles (LAX) to Columbus (CMH)
• Los Angeles (LAX) to Pittsburgh (PIT)
• Los Angeles (LAX) to Washington Dulles (IAD)
• Charlotte (CLT) to Ontario (ONT)
• Charlotte (CLT) to Sacramento (SMF)

Simple Flying noted that the Los Angeles-to-Cleveland route was one of the newest additions to American’s network, having launched in April. The suspension announcement comes just after two months of service.  

Passengers affected by the schedule changes will be offered alternative travel arrangements or refunds, FOX 5 reported.  

“Travelers on impacted routes will be offered alternate travel arrangements or a refund in line with American’s customer-friendly schedule change policy,” the airline said.

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Cars move through the horseshoe for arrival pickups and departure drop-offs near Terminal 2 at Los Angeles International Airport (LAX) on March 24, 2026, in Los Angeles, California. (Luke Hales/Getty Images / Getty Images)

American previously announced in April that it would raise checked baggage fees by at least $10 as the airline grapples with rising jet fuel costs, mirroring similar moves by other carriers, including United, Delta, Southwest and JetBlue. 

Since fighting in the Middle East intensified earlier this year, airlines across the industry have implemented a range of cost-cutting measures amid volatile fuel prices, including reducing flight schedules and raising fares to offset higher operating expenses.

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American Airlines aircraft seen at Phoenix Sky Harbor International Airport on Feb. 22, 2020. (Alex Tai/SOPA Images/LightRocket via Getty Images / Getty Images)

Last month, United Airlines released a staff memo announcing plans to cut about 5% of capacity by trimming less profitable routes, citing an expected prolonged period of elevated fuel prices.

In April, United also said it had been incrementally raising fares — up to 20% since last year — in an effort to “recover 100% of the increase in jet fuel prices as quickly as possible.”

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American’s decision to suspend select routes also follows the collapse of budget carrier Spirit Airlines, whose financial troubles were compounded by years of mounting losses and higher fuel costs.   

Fox News Digital reached out to American Airlines for more information. 

Fox News Digital’s Eric Revell and Michael Dorgan contributed to this report. 

This article was written by

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