Walmart (NYSE:WMT) shares climbed on Wednesday. The discount store chains pulled its outlook for operating income in the first quarter, citing uncertainty about the potential impact of sweeping tariffs on China, Vietnam and other key sources of goods across the globe.
In a news release, the company said it wants to “maintain flexibility to invest in price as tariffs are implemented.” It did not provide a new range for first-quarter operating income. It had projected an increase of 0.5% to 2.0% in adjusted operating income in the fiscal first quarter.
Walmart maintained its first-quarter sales outlook of 3% to 4% growth.
The retailer made the move the same day that President Donald Trump’s sharp tariffs took effect on significant manufacturing hubs that produce some of the goods that it carries. The duties began at 12:01 a.m. ET, including an expected 104% tariff on imports from China and a 46% levy on imports from Vietnam.
Yet the long-term fate of the tariffs remains unclear, as Trump sends mixed signals about his willingness to strike deals with some countries to lower the duties. Treasury Secretary Scott Bessent has said some 70 countries have reached out to the White House for talks about the levies.
WMT shares began Wednesday jumped $4.35, or 5.3%, to $86.14.