America’s largest retailer, Walmart (NYSE:WMT) announced earlier today that it will have to raise prices in response to the Trump administration’s tariffs on Chinese goods.
Customers will be hit with the fallout and despite this, WMT stock is surging at present, due to the company’s impressive Q1 results.
At present shares are up 3.27% and selling for $103.18 USD.
Let’s check this out.
WMT Stock on the Rise Despite Rising Prices
“We’re going to continue to do everything we can to keep prices low. That’s who we are. However, increased tariffs will lead to increased prices, we believe, for our customers.”
The details on what items will be marked higher have not been released yet. But the company urged that its teams are working to mitigate cost increases and manage prices under the current circumstances.
WMT Stock Unaffected By Trump Tariffs
WMT Stock On the Rise
As management work to navigate the increasing prices, investors don’t appear too concerned. In fact, investors are likely praising the company in its decision to continue lowering its prices and its strategies to deal with the upcoming tariffs.
The company’s Q1 results also helped sentiment: Walmart’s US sales grew by 3.4% compared to the same time last year. The increase is the chains fourth-straight quarter of sales growth. This has spurred on a bullish sentiment for WMT stock which is currently increasing over 3%.