Walmart signals it may raise prices in response to soaring fuel costs

Walmart reported positive earnings, but U.S. consumers are struggling with rising costs.

Walmart signaled Thursday that it may raise retail prices in the coming months to compensate for soaring fuel costs as a result of the Iran war.

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The big-box retailer reported overall positive first-quarter earnings. Revenue rose 7.3% to $177.8 billion, and U.S. same-store sales grew 4.1%, thanks in part to e-commerce and revenue from membership fees.

But spiking fuel prices took a big bite out of Walmart’s profits. It said it absorbed $175 million in higher-than-planned fuel costs over the quarter.