Until now, America’s largest home improvement retailer has limited what it has said about the impact of tariffs on its prices. But after reporting quarterly results Tuesday, CFO Richard McPhail said Home Depot would have to implement some price increases as a result of the Trump administration’s taxes on imports.

Big-ticket remodels slowed, traffic dipped, and tariffs loomed — but Home Depot held its guidance and showed just enough promise to send shares up 4%