Reported about 1 month ago
Following Donald Trump's election victory, proposed tariffs are raising concerns for import-heavy retailers in the fashion, beauty, and footwear sectors. Companies like Steve Madden, Under Armour, and Tapestry reported earnings while grappling with potential tariffs of 10%-20% on various imports and 60% on goods from China. Executives warn these changes could significantly impact their sourcing strategies and costs, prompting a shift towards diversifying supply chains away from China. Despite some immediate effects, the broader implications remain uncertain as the retail sector prepares for a potentially challenging trade environment.
Source: YAHOO