^{Photo: Barchart.com}

Walmart, the nation’s largest retailer, is set to report fiscal second-quarter earnings before the bell on Thursday, offering investors a key insight into the health of U.S. consumer spending amid rising tariffs.

Wall Street Expectations

According to analyst surveys compiled by LSEG, the following figures are anticipated:

• Earnings per share: 74 cents
• Revenue: $176.16 billion

As tariffs on imports from multiple countries have fluctuated this year, Walmart’s earnings report is being closely watched for signals of how these costs are affecting consumer behavior and retailer margins.

Impact of Tariffs and Pricing Strategies

Walmart warned in May that it would need to raise prices on some items due to President Trump’s increased duties on imported goods. About one-third of Walmart’s U.S. merchandise comes from abroad, primarily from China, Mexico, Canada, Vietnam, and India.

Chief Financial Officer John David Rainey highlighted the challenge: “We’re wired for everyday low prices, but the magnitude of these increases is more than any retailer or supplier can absorb. Consumers are going to start seeing higher prices.”

Trump reacted sharply to Walmart’s warnings, posting on social media that the retailer should “EAT THE TARIFFS,” sparking public debate about the effect of import levies on everyday goods.

Sales and E-Commerce Growth

Walmart projects net sales growth of 3.5% to 4.5% for Q2 and anticipates full-year sales rising between 3% and 4%, with adjusted earnings of $2.50 to $2.60 per share. Despite tariffs, Walmart has maintained a competitive edge by leveraging its reputation for value, faster home deliveries, and attracting higher-income shoppers.

The retailer also celebrated a milestone earlier this year, achieving its first profitable quarter for U.S. e-commerce. The online segment’s growth has been fueled by advertising revenue and commissions from third-party marketplace sellers, complementing Walmart’s brick-and-mortar business.

Broader Economic Significance

Walmart’s performance offers a unique lens into American households’ financial resilience. Rising tariffs, supply chain challenges, and fluctuating consumer confidence will all be reflected in the earnings report, potentially signaling broader trends for retail and the economy at large.

Investors and analysts will closely watch not only the company’s financial results but also guidance on pricing, supply chains, and e-commerce growth, as these factors may shape market expectations and retail sector strategies for the remainder of the year.

‍