The earnings per share for the quarter ending in April of the U.S. retail giant declined from $0.63 to $0.56, as stated in a company announcement.
Revenue rose by 2.5% in the quarter to $163.981 billion (€146.389 billion), a growth rate similar to that of expenses, which increased to $158.474 billion (€141.451 billion).
“We will do our best to keep prices as low as possible, but given the magnitude of the tariffs, even at the reduced levels announced this week, we will not be able to absorb all the pressure given the reality of the tight margins in retail,” remarked CEO Doug McMillon in a statement cited by the Associated Press.
