Despite sales tax, home depots have not increased prices as sales exceed expectations
Home Depot has announced that it will not raise prices due to tariffs, as other big box stores say they have to raise prices.
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With multiple well-known stores sharing quarterly revenue, it was a key stretch to measure how some of the nation’s biggest retailers managing the rise in import duties on President Donald Trump.
The retailer responsible for several shopping destinations in the United States is one of the companies’ choruses warning that prices could be rising due to the administration’s tariff hikes.
Walmart is the latest company to warn that choices can be costly soon, a social media post that has sparked rage from the president and tells the company not to hand over the rising costs to customers to “eat tariffs.”
Discount retailer comments come as consumer sentiment has dropped further this month and surges in inflation expectations over the past year. American households were worried about the economy as they signed their first contract in the first quarter of the year for the first time in three years, and were overwhelmed by import floods as businesses and retailers competed to preempt imminent tariffs. Some US companies either withdraw, cut, or withheld forecasts, citing the Trump administration’s yo-yo tariff policies as the reason behind the uncertainty.
This is what some of the nation’s largest and most well-known retailers said about the rise in prices due to tariffs.
Best Buy
In his latest revenue report released in early March, Best Buy CEO Corie Barry predicted prices for US consumers would rise before Trump’s escalated tariffs took hold in early April.
“Best Buy only imports directly from 2% to 3% of the overall assortment, but we expect vendors across our assortment to pass some tariff costs to retailers, and a rise in prices for American consumers said in a call on March 4th.
Best Buy’s next revenue call is set for May 29th.
Mattel
Mattel, the iconic Barbie manufacturer, said in its first quarter revenue report that in early May it plans to raise prices for American toys in direct response to the administration’s new trade policy.
“The company operates in an uncertain macroeconomic environment with significant volatility, including global trade policy and changes in US tariffs,” the May 5 report said.
In addition to Barbie, Mattel’s most recognised franchise brands include Hot Wheels, Fisher Price, American Girl, Thomas & Friends, UNO, Masters of the Universe, Matchbox, Monster High, Mega and Poly Pocket. According to Chief Financial Officer Anthony Disilvestro, it is an international brand, but about half of Mattel’s business is in the US.
Walmart
Despite exceeding first-quarter sales expectations, Walmart could quickly raise shopper prices due to increased tariffs imposed by the Trump administration, according to revenue calls.
Prices began to rise at the end of May, and certainly in June, Walmart’s chief financial officer, John David Rainey, said in an interview with CNBC.
target
Target cut its annual sales forecast on May 21, after reporting a sharp decline in quarterly sales, causing a drop in consumer confidence and a pullback of discretionary spending due to Trump’s tariff war.
According to Reuters, Target executives did not say whether to raise prices due to tariffs when asked by reporters.
Amazon said it would not list customs fees next to the product
Amazon reported revenue and revenue above forecasts on May 1st, but like other large retailers in recent weeks, it avoided providing guidance amidst tariff uncertainty.
Amazon CEO Andy Jassy said in an appeal with investors that, according to CNBC, it made it difficult to predict how Trump’s Amage-Off-Again tariffs would affect Amazon’s business. Amazon’s third-party seller-based “diversity” means that some merchants “will not intend to hand over all or their duties to their customers.”
On April 29, Amazon denied reports that the White House plans to include tariff charges on its main retail website, which led it to smash online retailers and call founder Jeff Bezos to its president.
“The team that runs the very low-cost Amazon Haul Store was thinking about listing import fees for a particular product,” Amazon spokesperson Rachael Lighty said in a statement to USA Today. “This will never be approved and we will not be going to happen.”
Home Depot that keeps prices stable
One of the retailers planning to stabilize prices is Home Depot, the company said on May 21.
“We generally intend to maintain our current pricing levels across our portfolio,” Chief Financial Officer Richard McFile told CNBC, adding that the majority of the company’s products come from the US.
However, the chain said tariffs could make some products unavailable, Reuters reported.
Contribution: Reuters.
Kathryn Palmer is a national trending news reporter for USA Today. You can contact her kapalmer@usatoday.com And with x @Kathrynplmr.
