Walmart to raise prices due to tariff costs after posting solid first quarter sales [View all]
Source: AP
NEW YORK (AP) — Walmart’s first quarter profit slipped and it said it must raise prices due to higher costs from tariffs implemented by President Donald Trump.
The nation’s largest retailers posted strong quarterly sales Thursday and said it expects sales growth of 3.5% to 4.5% in the second quarter.
Like many other U.S. companies, however, it did not issue a profit outlook for the quarter because of the chaotic environment, with stated U.S. tariff policies changing constantly. The company maintained its full year guidance issued in February.
Walmart earned $4.45 billion, or 56 cents per share, in the quarter ended April 30, down from $5.10 billion, or 63 cents per share, in the same period last year.
Read more: https://apnews.com/article/walmart-earnings-tariff-consumers-inflation-773f7de5081c40a98c98fbb293fa5f96
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