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As some of the biggest names in retail, including Walmart and Home Depot , delivered earnings results in recent weeks, they updated Wall Street on how they and their shoppers are responding to President Donald Trump 's wave of tariff increases.

The takeaway?

Tariff costs are rising for retailers, and they've had to get creative to avoid widespread price hikes.

Yet consumer spending has largely stayed strong so far — and the pinch from higher duties hasn't been as severe as some companies had feared. Compared with their concerns in the spring, retail executives struck a measured tone and said they don't expect their costs, or customers' prices, to jump dramatically.

Walmart had given

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