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Walmart says higher prices could hit this month due to tariffs
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Walmart is preparing to raise prices in the US as soon as this month, as its own costs increase as a result of the new tariffs on imports imposed by President Donald Trump.
The plans by the world’s largest retailer come as White House announcements in recent weeks have resulted in most goods from around the world facing new import taxes of at least 10%, with products from China facing higher duties of at least 30%.
Reporting to investors on the firm’s performance on Thursday, chief executive Doug McMillon said he was grateful that the Trump administration had, for now, suspended plans for more aggressive levies.
But he said that his firm was still likely to raise prices to cover the new costs.
“We will do our best to keep our prices as low as possible but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure,” he said.
More than two-thirds of what Walmart sells in the US is made, assembled or grown in the country, the company said.
But China is the dominant supplier in key categories, such as toys and electronics.
Executives also warned that tariffs on countries that have received less attention such as Costa Rica, Colombia and Peru were putting price pressure on staples such as bananas, avocados, coffee and roses.
In interviews with US business outlets on Thursday, chief financial officer John David Rainey said shoppers could see higher prices in stores as soon as this month and definitely in June.
In Canada, which put its own tariffs on US goods in retaliation for Trump’s measures, the boss of major retailer Loblaw’s also warned that Canadians were set to see a “large wave of tariff-related increases in the weeks ahead” as the retailer runs out of supplies purchased before the new duties were in place.
“While the tariff situation might be improving between the US and other countries, that’s not yet the case here in Canada,” Loblaw’s chief executive Per Bank wrote on social media.
The updates come as Trump’s trade war renews focus on how consumer spending – the main driver of the US and Canadian economies – will hold up in the face of price rises, and what that might mean for wider economic growth.
At Walmart, executives said they were focused on shielding food from price hikes and in a strong position to rapidly adjust what they are buying if shoppers start to baulk at higher prices.
The company said it could not offer guidance to investors about its profit expectations over the next three months, as it would ordinarily do, because of the “dynamic nature” of the situation.
But over the full year, executives said they were still pushing to meet their original goals, including plans to increase profits faster than sales – an indication that they expect to be able to pass on higher costs to the consumer without taking a major hit.
“We don’t see anything that changes the way we think about our business long-term,” the company’s executives told analysts. “We think we can navigate this.”
For now sales appear to be holding up. After a slow February, which executives blamed on bad weather, purchases ticked up in March and April.
Overall revenue in the February to April period rose 2.5% year-on-year to $165.6bn, with sales at US Walmart stores open at least a year up 4.5%.
Profits were $4.4bn, down 12% year-on-year.
The Nigerian National Petroleum Company Limited, NNPCL, has slashed its fuel pump price for the second time within four days.
A market survey on Saturday by DAILY POST showed that NNPCL retail outlets around Airport Junction and Wuse Zone 6 (Berger) in Abuja have reduced their petrol price to N1210 per litre, down from N1260.
This means that the state-owned oil firm slashed the petrol price by N50 per litre.
This comes barely two days after Dangote Refinery reduced its petrol gantry price by N50 to N1,125 per litre.
Recall that four days ago, NNPCL had adjusted its fuel price pump by N75 per litre to N1260.
With the latest drop by NNPCL retail outlets, petrol prices stand between N1210 per litre and N1305 per litre in Abuja and its environs.
The reduction in domestic fuel comes amid falling crude oil prices, which stand at $69 per barrel and $71 per barrel for West Texas Intermediate and Brent crude, respectively, following the easing of the conflict in the Middle East.
Recall that President Bola Tinubu has kept mum amid the clamour by Nigerians for a commensurate drop in domestic fuel pump prices due to the significant reduction in crude oil prices.
The Independent National Electoral Commission, INEC, has said it is yet to receive the Certified True Copy, CTC, of the Federal High Court judgment that set aside an earlier order directing it to register the Nigeria Democratic Congress, NDC, as a political party.
INEC revealed this in a statement issued on Saturday by its Chief Press Secretary and Media Adviser to the Chairman, Adedayo Oketola.
According to the commission, although it is aware of media reports on the judgment delivered by the Federal High Court sitting in Lokoja on June 26, it cannot comment on the ruling until it obtains and reviews the certified copy.
The Independent National Electoral Commission, INEC, is aware of reports circulating in the media regarding the judgment delivered on Friday, June 26, 2026, by the Federal High Court sitting in Lokoja, which set aside an earlier order concerning the registration of the Nigeria Democratic Congress.
“However, as of this moment, the Commission has not yet received the Certified True Copy, CTC, of the court’s order,” the statement said.
INEC stated that its legal department would study the judgment upon receipt of the CTC before advising the commission on the next course of action.
“Once the Commission’s legal department receives and thoroughly studies the CTC of the judgment, INEC will take an informed, lawful decision in line with the court’s directives.
“Until then, we cannot comment on the specifics of the ruling, and the public is urged to await the Commission’s formal position on the matter,” Oketola added.
Justice Isah Dashen of the Federal High Court in Lokoja had on Friday set aside the court’s December 10, 2025, judgment directing INEC to register the NDC as a political party.
The court held that the rights of the Peace Movement Party were affected by the earlier judgment because it was not joined in the suit despite claiming ownership of the logo relied upon in securing the registration order.
Justice Dashen consequently ordered that all parties be restored to the positions they occupied before the December 2025 judgment and directed that the substantive suit be heard afresh with all necessary parties joined.
The NDC has rejected the ruling and announced plans to appeal the decision. Its National Chairman, Senator Moses Cleopas, maintained that the party had not been deregistered and argued that the trial court lacked jurisdiction to revisit a matter on which it had already delivered a final judgment.
The ruling has also attracted reactions from opposition figures, including the NDC’s presidential candidate, Peter Obi, the party’s National Leader, Senator Henry Dickson, and other stakeholders, who described the decision as a threat to Nigeria’s multiparty democracy and vowed to challenge it through all available legal channels.
INEC, however, maintained that it would reserve its position on the judgment until it receives and reviews the Certified True Copy.
A joint police operation rescued five victims abducted near Ogbere Forest in Ogun state on Wednesday.
They were rescued within 25 hours by the Lagos and Ogun Police Commands, which were part of a joint operation codenamed KOSAYE, meaning “No Space” in Yoruba.
The woman was among the victims who were shot in the incident. Her daughter and sister were among those rescued by the police on Thursday.
NNPC slashes petrol price twice within four days
Lokoja Court order: INEC speaks on NDC, says it’s yet to receive CTC
Just in: Police rescue five abductees in Ogun
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