Walmart said President Donald Trump's new tariffs could affect its profits in the first quarter, though it expects sales to be stable during the period and for the full year. In a news release, the discounter said it wants to "maintain flexibility" in case it has to spend more to keep prices low.

The company's shares, which have fallen nearly 9 per cent since the announcement of a raft of tariffs on April 2, rose about 5 per cent in early trading

Walmart executives offered a dose of confidence that the retailer will keep delivering low prices as it navigates President Donald Trump's escalating trade wars with China and nearly all of the nation's trading partners that have brought a wave of economic uncertainty.