Walmart says it has to raise prices ‘given magnitude of tariffs’

Future sales have become a concern for all retailers (Julia Demaree Nikhinson/AP)

Walmart’s first-quarter profit slipped, and it said it must raise prices due to higher costs from tariffs implemented by US president Donald Trump.

The nation’s largest retailer posted strong quarterly sales on Thursday and said it expects sales growth of 3.5% to 4.5% in the second quarter.