Walmart (WMT) and Sam's Club lowered "thousands" of prices on essentials and groceries, including beef, fresh produce, beverages and other products as part of a summer rollback measure, Walmart said Monday.

Earlier, US President Donald Trump said in a Truth Social post stating that the retailer would lower its prices "by a lot" at his administration's request to celebrate the country's 250th birthday.

"Walmart will, in particular, be dropping the price for a pound of ground beef by almost 15%, among many other products," Trump said. "Other Retailers should follow the lead of these absolute Patriots."