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Walmart soars after maintaining full-year guidance into the teeth of tariffs

The retailer also pulled its Q1 operating income guidance.

Nia Warfield

Walmart soared Wednesday even after the company pulled its first-quarter operating income guidance, citing a mix of shifting consumer behavior, rising costs, and fresh tariff pressure.

To cushion the blow, management reaffirmed its outlook for Q1 revenues, as well as full-year sales and operating income.

Keeping the same full-year guidance that was deemed incredibly disappointing and kicked off a momentum stock rout less than two months ago becomes more of a positive in light of how much fear has been priced in to the stock market since.

Tariffs, which took effect Wednesday at midnight, include a 104% duty on some Chinese imports and a 46% tariff on goods from Vietnam. Walmart sources about 20% of its products from China and has been pushing suppliers there to lower prices.

“History tells us that when we lean into these periods of uncertainty, Walmart emerges on the other side with greater share and a stronger business,” CFO John David Rainey said in a statement. Executives have said that inflation is making shoppers more selective, leading many to prioritize necessities like groceries over higher-margin items like clothing and home goods.

Back in February, Walmart topped Q4 estimates, but the stock saw its biggest drop in over a year after the retailer warned of slower growth ahead. Walmart’s shares are still up 37% over the past year.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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