Walmart Inc. reiterated its sales guidance despite U.S. President Donald Trump’s barrage of tariffs and weakening consumer sentiment, suggesting the world’s largest retailer is in a good position to navigate a historic period of economic uncertainty.
The company still sees net sales growing 3% to 4% this year, according to a statement. The retailer plans to combat the levies by investing in keeping prices low.
Walmart shares declined 1.2% at 7:35 a.m. New York time. The stock was down 9.5% year-to-date through Tuesday’s close.
The retailer also kept its outlook for operating income for this year, but widened the range for the current quarter because of several factors, including the impact of tariffs. Walmart wants to be flexible to invest in prices as the levies roll out.
The Trump administration is imposing sweeping tariffs that threaten to hike prices on everything from spirits and apparel to electronics and cars. Trump’s plans sparked a market selloff over the past week, wiping out trillions of dollars in global equity value and stoking concerns about a recession. The latest country-specific tariffs took effect on Wednesday morning.
“History tells us that when we lean into these periods of uncertainty, Walmart emerges on the other side with greater share and a stronger business,” John David Rainey, Walmart’s chief financial officer, said in the statement.
Earlier Wednesday, Delta Air Lines Inc. pulled its forecast due to uncertainty surrounding global trade. Delta, the first airline to report earnings this quarter, sowed caution with investors by saying revenue has “flat-lined” as confidence dims among consumers and businesses. The carrier plans to update its outlook later in the year as visibility improves.
Walmart is seen as a barometer for consumer sentiment due to its size and exposure to a broad swath of US shoppers. The company previously said it’s accustomed to tariffs and has a diverse supply chain with about two-thirds of items sourced in the US. Executives say they’ll work closely with vendors to keep prices low.
Company executives are hosting a two-day event with Wall Street analysts in Dallas, where they have touted their progress with supply chain efforts. Kicking off the event Tuesday, Walmart Chief Executive Officer Doug McMillon said the retailer is accustomed to navigating through periods of turbulence and that it will focus on keeping prices as low as possible.
Jaewon Kang, Bloomberg News
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