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Barbie and Monopoly toymakers see bright holiday season despite tariff pressures
Carter's expects tariffs to add $200M-$250M in costs for 2025, prompting store closures and a 15% cut in office roles to save $35M annually.
- On Monday, Carter's, the children's clothing retailer that owns OshKosh B'gosh, announced it will close about 150 stores and cut about 300 jobs as tariffs could add $200m to $250m in import costs for 2025.
- President Donald Trump initiated new tariffs days after his second-term inauguration, affecting imports broadly including steel, aluminum and foods, while Beijing has faced steep levies this year.
- Financial disclosures indicate tariffs have added substantially to $110 million in duties in fiscal 2024, and Carter's expects a $25 million to $35 million pre-tax income hit in the fourth quarter of fiscal year 2025.
- Consumers face higher costs, with the Tax Foundation reporting an 8.99 percent increase in apparel prices, while Carter's said tariffs could add an extra $200m to $250m in import costs in 2025.
- Low inventory and delayed preorders have left many retailers pulling back on seasonal hiring, even as Amazon plans 350,000 seasonal hires, while about 30,000 chain stores filed for bankruptcy this year, opening opportunities for independents.
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San Diego Union Tribune+14 Reposted by 14 other sources
Small shops may prosper during holidays as big chains feel tariff pressures
As the holiday shopping season approaches, some smaller retailers could find themselves attracting new customers who turn away from big-box stores facing mounting tariff pressures. Burt Flickinger III, managing director of Strategic Resource Group, a New York-based retail and consumer goods consulting firm, cited a Bloomberg report that tariff issues are slowing things down because manufacturers and shippers are eating about 50% of the tariffs a…
·San Diego, United States
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Coverage Details
Total News Sources23
Leaning Left4Leaning Right1Center16Last UpdatedBias Distribution76% Center
Bias Distribution
- 76% of the sources are Center
76% Center
L 19%
C 76%
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