A lot of big companies have warned customers that price hikes are coming.

Some have specifically called out President Donald Trump’s tariffs as the culprit — Walmart, for example. Subaru is blaming higher prices for its 2025 models on “current market conditions.”

But on its earnings call Tuesday morning, Home Depot told investors it doesn’t plan broad price increases. 

At a time when consumers are bracing for higher prices, companies can give themselves an edge by promising to buck that trend. 

Terry Esper, a professor of logistics at the Ohio State University, said Home Depot is in a good position.

“I think they’re able to weather this trade scenario maybe a bit differently than a company like a Walmart,” said Esper.

And only partly because of the strong domestic supply chain Home Depot touted on its earnings call. 

Esper said home improvement retailers deal in higher margin goods — things like garden supplies and certain construction materials. 

“Some of the specialty products that typically have a bit more of a higher markup,” said Esper — leaving a bit more room to absorb higher wholesale costs. 

Plus, Esper said these retailers aren’t just catering to households. 

“Home Depot also has a pretty big customer base that are contractors,” he said.  

These are professionals who buy in high volumes, and are less likely than DIY-ers to pull back amid economic uncertainty. 

But companies that don’t have all that going for them can pull other levers to keep a lid on prices, said Amol Shah, a retail consultant with AlixPartners. 

“You know, they’re all trying to find some sharing of the pain, so to speak,” said Shah.

Shah said big box stores are asking wholesalers to eat some of the cost associated with tariffs, so they don’t have to pass as much on to customers. 

But Wendy Liebmann, CEO of WSL Strategic Retail, said lots of companies just won’t be able to pull it off. She was struck by Walmart’s warning about tariff-driven price hikes. 

“I mean Walmart, of all the retailers in the world, is a company that does not like to take price increases or make these kinds of statements,” said Liebmann.

Liebmann said that the company isn’t waiting to raise prices tells us things are getting serious for retailers.