More Retailers To Detail Dire Effects of Tariffs

Analysts will be closely watching earnings reports from Target, Home Depot, and other major retailers this week, particularly for commentary on the impact of tariffs on pricing.

Boot Barn, a Western-wear retailer, reported strong sales but warned that both demand and profit margins could suffer due to rising tariffs. I Photo: Boot Barn

Walmart said last week that it would need to raise prices to offset rising tariff-related costs—something President Donald Trump reportedly told the retailer to “eat,” Liz Moyer reported for Barron’s Daily.

Tariffs have dominated corporate earnings calls over the past two months more than at any time in the last decade, according to FactSet.

Similarly, the word “uncertainty” has been mentioned the most since 2020, the height of the COVID-19 pandemic. References to a “recession” are also at their highest since late 2022.

Trump has continued to insist that U.S. tariffs on imports won’t affect American consumers—a claim economists say is false.

Last week, Boot Barn, a Western-wear retailer, reported strong sales but warned that both demand and profit margins could suffer due to rising tariffs. After briefly pausing his so-called “reciprocal tariffs” while negotiating bilateral trade deals, Trump now says countries will soon receive letters detailing the specific tariffs they’ll face.

Treasury Secretary Bessent has warned that tariff rates could range from 10% to 49% for nations that don’t negotiate “in good faith.”