3 Things to Watch Ahead of Q1 Earnings Season – From Tariff Impacts to Winners and Losers

As earnings season kicks off this week, with Skechers releasing its first quarter results on Thursday, the industry will get a first real peek inside footwear companies’ thoughts on President Trump’s mounting tariffs. This comes after weeks of whiplash on whether U.S. trading partners would be hit with additional import duties. As of April 9, President Donald Trump reversed part of his plan to impose reciprocal tariffs on U.S. trading partners. Now, the president has placed a 90-day pause on his reciprocal tariff plans, opting for a universal 10 percent rate for all trade partners except China. On April 10, the White House clarified that China’s tariff rate will jump to 145 percent. And many in the footwear industry are confused and wondering what will happen next. In a new note from Williams Trading analyst Sam Poser, he suggests that the tariffs will effect everything from margins, pricing, and demand, and has led the financial firm to lower its estimates and price targets across its coverage. Some of these moves include Williams Trading downgrading Dick’s Sporting Goods and Shoe Carnival from “buy” to “hold,” Steve Madden from “hold” to “sell,” and upgrading Canada Goose from “sell” to “hold.” But as the industry unpacks the total

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