Walmart reports jump in profit, warns on tariffs

Walmart reported a jump in first-quarter earnings Thursday on increased US store sales and eCommerce growth, but warned that higher US tariffs could hit its business.

The world’s biggest retailer, which has been unveiling new “omnichannel” retail ventures including a just-announced next-day delivery service in many US markets, pointed to increased US sales as evidence the strategy was working.

But executives joined a chorus of retailers who have warned about tariffs in the wake of the Trump administration’s latest moves in the long-running US-China dispute.

President Donald Trump has started a process to impose new duties on about USD 300 billion worth of additional Chinese merchandise that cover virtually everything China sells to the United States and encompass household items such as clothing and appliances.