Despite a recent US-China tariff reduction, Walmart warns of higher prices. The retail giant, heavily reliant on imports from China and Mexico, says the tariff cuts aren't sufficient to offset rising costs. Walmart CEO Doug McMillon previously cautioned President Trump against tariffs. While first-quarter comparable sales exceeded expectations, Walmart withheld its second-quarter profit guidance due to trade uncertainty. Ecommerce sales showed strong growth, but overall revenue slightly missed forecasts. Target and Home Depot are expected to report earnings next week.

Prepared by Christopher Adams and reviewed by editorial team.