Macy's is bracing itself for a wave of new tariffs. CEO Jeff Gennette issued a warning about the impact tariffs could have on consumers.
Macy's is bracing itself for a fresh wave of tariffs.
In a call with analysts on Wednesday, Macy's CEO Jeff Gennette addressed the ongoing US-China trade war, whichthis week, and whether it would have a meaningful impact on the department store's business. Gennette said that tariffs imposed on Chinese imports during 2018 did not have a meaningful impact on the company. However, new tariffs announced this month on $200 billion worth of Chinese imports likely would have an impact, specifically on Macy's furniture business.Gennette said Macy's is now bracing itself for another wave of proposed tariffs that would impact $300 billion worth of goods imported from China.
"It is hard to do the math to find the path that gets you to a place that doesn't have a customer impact," he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Symantec CEO to step down in abrupt departure as company warns on profitSymantec Corp's chief executive officer stepped down unexpectedly on Thursd...
Read more »
DoubleLine CEO Jeffrey Gundlach warns of recession driven by 'cocktail of economic risk'Doubleline CEO Jeffrey Gundlach warns investors that the U.S. is 'out of tools' to gin up the economy during the next recession.
Read more »
Microsoft CEO Satya Nadella shares the 3 essential traits that great leaders like Jeff Bezos, Bill Gates, and Mark Zuckerberg all have in commonMicrosoft CEO Satya Nadella shares the 3 essential traits that great leaders like Jeff Bezos, Bill Gates, and Mark Zuckerberg all have in common (via Inc)
Read more »
Business Leaders to Talk Trade, Technology and the Environment at WSJ CEO Council in LondonU.S. and European policy makers and senior executives are set to gather in London on Tuesday for the annual European meeting of The Wall Street Journal’s CEO Council.
Read more »
Jeff Bezos Unveils Blue Origin's Lunar Lander; Announces Launch Of Next-Gen Rocket In 2021Amazon founder Jeff Bezos confirmed that his space company, Blue Origin, will launch its next generation rocket, New Glenn, for the 1st time in 2021 by TheAlexKnapp
Read more »
Don’t Play Monopoly With Jeff ImmeltMuch that is wrong with GE now is traced back to former CEO Jeff Immelt. But he made a smart bet on real estate, without meaning to.
Read more »
Jeff Bezos Unveils Blue Origin's Lunar Lander; Announces Launch Of Next-Gen Rocket In 2021On Thursday, Amazon CEO Jeff Bezos unveiled his space company's lunar lander and hinted it could be ready to send astronauts to the Moon by 2024.
Read more »
'We are the rightful owners' of Anadarko, Occidental CEO tells shareholdersOccidental Petroleum Chief Executive Vicki Hollub on Friday touted her $38 billi...
Read more »