How the new 25% tariff on some $200 billion in goods imported from China will impact retail:
figures they could pay up to $2,389 more overall from the increased tariffs. Worst case, it could reduce the GDP by 1.04% and result in over 2.2 million jobs lost.
Through the first 19 weeks of the year, U.S. store closures have exceeded all closings in 2018. To date, 6,196 stores have closed, against 2,724 openings, as compared with 5,864 closures in 2018 and 3,243 openings.that the number of closings could more than double by the end of the year to reach 12,000 stores shuttered.
Cowen’s Chen noted: “Retailers with greater exposure to staples versus discretionary categories will be more isolated. Examples of better-positioned retailers include Walmart and Costco as grocery is 56% and 55% of mix, respectively.” For Dollar General, consumables represented nearly 80% of its $25.6 billion in sales last year, or $19.9 billion.trade-down effect.
Jewelry retailers will also take a hit from the tariffs. Roughly 15% of all jewelry imports come from China,reports. The already-struggling Signet, which saw fourth quarter sales decline by 1.4% across its Zales, Kay, Jared and other brands, will continue to be challenged.
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