Retail giant Walmart announced Thursday that it will raise prices on numerous items by the end of this month due to pressure from the U.S. government's tariff policies. In its first-quarter financial report for fiscal year 2026, which ended on April 30, Walmart posted a net profit of 4.49 billion U.S. dollars, marking a more than 12 percent decline compared to the same period last year. Walmart CEO Doug McMillon said that due to narrow profit margins in the retail sector, the company cannot absorb all the pressures from tariffs, even with a 90-day reprieve reducing duties on Chinese imports to 30 percent. He warned that higher tariffs will inevitably lead to price increases for consumers. Walmart CFO John Rainey told U.S. media that the rising tariff costs have exceeded what retailers can manage. While the company remains committed to keeping prices competitive, Rainey noted that shoppers are likely to see price hikes by the end of May, with further increases expected in June. SHOTLIST: FILE: Fairfax, USA - March 17, 2020 1. Exterior of Walmart store; FILE: Los Angeles, California, USA - 2020 2. Various of staff, customers in Walmart store; FILE: Fairfax, USA - March 17, 2020 3. Various of customers, goods in Walmart store; FILE: Washington, D.C., USA - Date Unknown 4. TV sets sold in Walmart store; FILE: Los Angeles, California, USA - April 7, 2025 5. Various of residents walking with shopping carts, loading groceries onto cars; FILE: Washington D.C., USA - Oct 2024 6. Various of White House; 7. Capitol building; FILE: New York City, USA - Oct 2024 8. Various of port scene, Statue of Liberty; Los Angeles, USA - Recent 9. Various of scenes of Port of Los Angeles. [Restrictions: No access Chinese mainland]