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Cnn
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The prices slam the gap.
GAP said Thursday that if President Donald Trump’s 30% tariffs on China and 10% rights on most imports from other countries remain at the current level, this could cost the company $ 100 million at $ 150 million this year.
Gap (GAP) Shares plunged 15% during hours after negotiation hours on Thursday.
Developments around Trump’s prices are constantly evolving, which makes it difficult for companies to plan. A federal court of appeal Thursday interrupted The decision of the previous night of the International Trade Court which blocked many Trump prices.
The prices darkened a strong return to Gap, which also owns Old Navy, Banana Republic and Athleana. Company sales in open stores for at least one year increased by 2% in the last quarter, the fifth consecutive quarter.
In a Interview with CNBCCEO of Gap Richard Dickson said the gap will not considerably increase prices for prices.
“Based on what we know today, we are not expecting that there are significant price increases or impact on our consumer,” he said.
Other brands have said they would increase prices on certain articles in response to prices.
“We are not only increasing in prices,” said Macy CEO Tony Spring, during a call for results with analysts on Wednesday. “We make selective price increases in selective brands, selective categories, because we think that the value equation for the customer is always very relevant.”
Walmart,, Home Depot,, Target And other retailers have also said they would increase prices to mitigate the impact of prices.
Update: this story and the title have been updated to reflect the net impact of the costs of the difference tariffs.
