Consumers are responding to Walmart’s lower prices with strong sell-throughs, CEO Doug McMillon says on a call with analysts following the retail giant’s 1Q results. The company’s making progress lowering prices, which McMillon says are important to its customer and membership base. Walmart recently announced the biggest release of a private food brand in 20 years, with 70% of the products priced under $5. “Our combination of everyday low prices plus a large number of rollbacks is resonating.” Shares rise 5.9% to $63.33.