Consumer companies ticked down as tariff responses were set to loom large in earnings updates.

President Trump attacked Walmart on social media Saturday, after the retail giant became the biggest company so far to signal that tariff-related price increases are coming for American shoppers. Shares of the retail giant fell slightly.

Walmart kicked off earnings season with a relatively strong report, but warned that tariffs would force it to raise prices. Other retailers such as Home Depot and Lowe's will provide their own earnings updates this week.

"It's going to be interesting to see if other companies signal the same as Walmart, acknowledging that tariffs will drive costs higher," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.

Discount airline Ryanair reported a decline in fiscal-year earnings that was in line with analysts' expectations, as costs rose and average fares fell.

Diageo expects a $150 million annual hit on its profit from U.S. tariffs, as the ripple effects from global trade wars cast a cloud on the U.K. booze giant's efforts to turn around its performance.

President Donald Trump's trade war polices may be in flux, with the U.S.-China tariff deal last week changing things radically. But there is unlikely to be a "deluge" of cargo coming from China to the U.S. And there will most likely be "lower inventory across a variety of retail sectors" in the run-up to the summer and holiday shopping seasons, according to Port of Los Angeles Executive Director Gene Seroka.

French couture conglomerate Kering, which owns Gucci and other brands, appointed former Valentino lead designer Pierpaolo Piccioli as the new creative director of Balenciaga.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

May 19, 2025 17:06 ET (21:06 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.