Walmart posted a strong first quarter and reiterated guidance for the year. However, executives warned that financial performance for the year ahead was subject to “substantial uncertainty” as a result of fluctuating tariff policies.

Walmart’s sales rose 2.5 percent, narrowly missing analysts’ expectations. Experts say the retail giant may be better situated than some competitors to endure a trade war.

Walmart Inc. delivered another quarter of solid sales and earnings growth, but cautioned that tariffs and increasing economic turbulence means even the world’s largest retailer expects to raise prices.