Walmart says it will raise prices due to tariff costs after posting solid first quarter sales
May 15, 2025, 4:10 AM
Dumbbells are displayed at a Walmart, Wednesday, April 16, 2025, in Groton, Conn. (AP Photo/Julia Demaree Nikhinson)
Credit: ASSOCIATED PRESS
(AP Photo/Julia Demaree Nikhinson)
NEW YORK (AP) 鈥� Walmart鈥檚 first quarter profit slipped and it said it must raise prices due to higher costs from tariffs implemented by President Donald Trump.
The nation鈥檚 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.
Adjusted earnings per share were 61 cents, exceeding the 58 cent projections from industry analysts, according to FactSet.
Revenue rose 2.5% to $165.61 billion, just short of analyst estimates.
Walmart鈥檚 U.S. comparable sales 鈥� those from established physical stores and online channels 鈥� rose 4.5% in the second quarter, though that鈥檚 slowed from a 4.6% bump in the previous quarter, and a 5.3% increase in the third quarter of 2024.
