- 2025-05-30
Well-known department store retailers in the United States have lowered their sales expectations
Cctv.com News: US President Trump recently pressured retail giant Walmart to "absorb" the tariff costs on its own and not raise prices. Consumer News & Business reported on the 21st that after a weak quarter in performance, Target, a well-known US retailer, lowered its full-year sales forecast on the same day and downplayed its price increase plans related to tariffs.
Cctv.com News: US President Trump recently pressured retail giant Walmart to "absorb" the tariff costs on its own and not raise prices. Consumer News & Business reported on the 21st that after a weak quarter in performance, Target, a well-known US retailer, lowered its full-year sales forecast on the same day and downplayed its price increase plans related to tariffs.
Target said that its business has been damaged due to factors such as the uncertainty of tariffs. Consumer News & Business of the United States reported that Target's earnings and revenue in the first quarter were both lower than expected. Other data shows that in the quarter ending May 3, Target's comparable sales dropped by 3.8%, a decline that exceeded analysts' general expectations. Target's CEO Brian Cornell said the company is considering all possible scenarios and formulating plans to maintain maximum flexibility in order to protect its business in the face of huge potential costs.
In addition, well-known American retailers of home improvement and building materials, Lloyd's and Home Appliance, are also exploring strategies to manage tariff costs without raising prices across the board. Home Depot executives said on May 20 that although there would be no overall price increase, the prices of individual products might be adjusted. Home Depot also admitted that some products might completely disappear from store shelves. When asked about tariffs and prices, Lloyd's executives also focused on plans to maintain price competitiveness and minimize the impact on consumers.
In response to media interviews, Nike avoided mentioning the term "tariffs", merely stating that the company regularly assesses its business conditions and makes price adjustments in its seasonal plans. According to US media reports, Nike will raise the prices of a large number of footwear, clothing and equipment products starting this week. Among them, the shoe models priced between 100 and 150 US dollars have increased by 5 US dollars, while the sports shoes priced above 150 US dollars have increased by 10 US dollars. Insiders said that the price adjustment measures will take effect no later than June 1st, but some goods may be reflected in the retail end this week.
The Associated Press reported that major retailers in the United States are fighting two battles simultaneously: on the one hand, they have to deal with the costly price impact brought about by President Trump's comprehensive tariffs; on the other hand, they have to strive to openly talk about this impact without provoking the White House or alienating consumers. The Axios news website of the United States reported that American retailers are faced with two choices in the era of tariffs: either raise the prices of goods or face the risk of cash shortage that threatens their survival.
On the 21st, Reuters released the latest survey of economists, showing that the economic outlook of the United States remains weak. In this survey conducted from May 14th to 21st, all the economists surveyed unanimously agreed that the relevant policies of the US government have had a negative impact on the US economy, with more than 55% of them believing that "serious damage has been caused". Michael Garpen, the chief U.S. economist at Morgan Stanley, said that the current tariff rate is still much higher than the level at the beginning of the year. Policy uncertainty is very high and the risk of recession remains high. Meanwhile, the survey results show little change in expectations for inflation in the United States. Economists generally believe that at least until 2027, the inflation level in the United States will be higher than the Federal Reserve's 2% target.
Source: CCTV.com