Latest news with #JessicaDiNapoli
Yahoo
3 days ago
- Business
- Yahoo
Fewer fake firs, higher prices: China tariff delay does little to save the holidays
By Jessica DiNapoli, Casey Hall and Siddharth Cavale NEW YORK/SHANGHAI (Reuters) -U.S. shoppers looking for fake Christmas trees and holiday decor this year will have fewer choices and face higher prices as tariffs on Chinese imports force retailers to scale back orders as they assess how tight customer budgets are. A 90-day extension to a tariff reprieve - agreed to by Washington and Beijing on August 11 - will allow retailers to rush in some last-minute shipments, but most holiday purchases are already done. Retailers typically import seasonal goods in advance because many products need six-month lead times. "We're going to have a lower supply year," said Chris Butler, CEO of National Tree Company, a New Jersey-based artificial tree importer supplying Walmart, Home Depot, Lowe's and Amazon. The company, which sources roughly half its trees from China and the rest from Vietnam, Cambodia, and Thailand, will hike prices by 10% to 20% on its Carolina pine, Nordic spruce, and Dunhill fir trees, Butler said. China is the biggest exporter of Christmas decorations to the U.S., accounting for 87% of such imports last year, worth roughly $4 billion, according to United States International Trade Commission data. "We're not overbuying (from our suppliers) because we're not sure about consumer demand and don't want expensive inventory on our books," Butler said. Big retailers are more keen than usual to have National Tree ship directly to consumers rather than buying them as inventory, reducing the stores' risk on their balance sheets. Butler's rival, Mac Harman, CEO of California-based Balsam Hill, expects about 15% fewer trees in the market this season. "Even with the extended 90 days, it's too late for any of us to add orders," he said. Retailers started cutting orders after U.S. President Donald Trump flip-flopped on China tariffs - raising them to 145% in April, then cutting them to 30% a month later - because they are unwilling to buy trees at elevated prices, said Harman. He sources trees from around 80 suppliers, half of which are in China. Still, the latest pause has netted Balsam Hill some $2.5 million in savings, he said. A Walmart spokesperson said the company was confident in its inventory position heading into the holiday. Home Depot and Amazon declined to comment, while Lowe's did not respond to a Reuters request for comment. 'STILL TOO MUCH' The reduced demand for fake trees, a key Christmas purchase, signals a muted shopping season. Higher prices on essentials like diapers and dish soap have already strained budgets. Denim maker Levi Strauss said last month it will offer a leaner holiday selection. Isaac Larian, CEO of MGA Entertainment that makes Bratz dolls, said a 30% tariff on toys "is still too much." The company has raised prices, he said. Only goods shipped by air would benefit from the delay in higher tariffs, said Chris Rogers, head of supply chain research, S&P Global Market Intelligence. Companies including Apple that have upcoming product launches will gain from the certainty that there will be a 30% tariff, he said. Some suppliers, shippers, and retailers, however, started rushing extra orders after the moratorium was announced, industry sources said. While most footwear makers simplified holiday orders due to tariff uncertainty, a few are placing new orders to add variety to their inventory, said Matt Priest, CEO of industry group Footwear Distributors and Retailers of America (FDRA). It may not be simple to ramp up orders, though. Imports face manufacturing bottlenecks as brands that diversified to other countries after initial tariffs now face delays before new manufacturers can scale up, said Dave Tu, president of DCL Logistics, which imports for clients like GoPro. By and large, this tariff extension changes little for holiday imports. For most companies, said FDRA's Priest, holiday inventory "is what it is." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Fewer fake firs, higher prices: China tariff delay does little to save the holidays
By Jessica DiNapoli, Casey Hall and Siddharth Cavale NEW YORK/SHANGHAI (Reuters) -U.S. shoppers looking for fake Christmas trees and holiday decor this year will have fewer choices and face higher prices as tariffs on Chinese imports force retailers to scale back orders as they assess how tight customer budgets are. A 90-day extension to a tariff reprieve - agreed to by Washington and Beijing on August 11 - will allow retailers to rush in some last-minute shipments, but most holiday purchases are already done. Retailers typically import seasonal goods in advance because many products need six-month lead times. "We're going to have a lower supply year," said Chris Butler, CEO of National Tree Company, a New Jersey-based artificial tree importer supplying Walmart, Home Depot, Lowe's and Amazon. The company, which sources roughly half its trees from China and the rest from Vietnam, Cambodia, and Thailand, will hike prices by 10% to 20% on its Carolina pine, Nordic spruce, and Dunhill fir trees, Butler said. China is the biggest exporter of Christmas decorations to the U.S., accounting for 87% of such imports last year, worth roughly $4 billion, according to United States International Trade Commission data. "We're not overbuying (from our suppliers) because we're not sure about consumer demand and don't want expensive inventory on our books," Butler said. Big retailers are more keen than usual to have National Tree ship directly to consumers rather than buying them as inventory, reducing the stores' risk on their balance sheets. Butler's rival, Mac Harman, CEO of California-based Balsam Hill, expects about 15% fewer trees in the market this season. "Even with the extended 90 days, it's too late for any of us to add orders," he said. Retailers started cutting orders after U.S. President Donald Trump flip-flopped on China tariffs - raising them to 145% in April, then cutting them to 30% a month later - because they are unwilling to buy trees at elevated prices, said Harman. He sources trees from around 80 suppliers, half of which are in China. Still, the latest pause has netted Balsam Hill some $2.5 million in savings, he said. A Walmart spokesperson said the company was confident in its inventory position heading into the holiday. Home Depot and Amazon declined to comment, while Lowe's did not respond to a Reuters request for comment. 'STILL TOO MUCH' The reduced demand for fake trees, a key Christmas purchase, signals a muted shopping season. Higher prices on essentials like diapers and dish soap have already strained budgets. Denim maker Levi Strauss said last month it will offer a leaner holiday selection. Isaac Larian, CEO of MGA Entertainment that makes Bratz dolls, said a 30% tariff on toys "is still too much." The company has raised prices, he said. Only goods shipped by air would benefit from the delay in higher tariffs, said Chris Rogers, head of supply chain research, S&P Global Market Intelligence. Companies including Apple that have upcoming product launches will gain from the certainty that there will be a 30% tariff, he said. Some suppliers, shippers, and retailers, however, started rushing extra orders after the moratorium was announced, industry sources said. While most footwear makers simplified holiday orders due to tariff uncertainty, a few are placing new orders to add variety to their inventory, said Matt Priest, CEO of industry group Footwear Distributors and Retailers of America (FDRA). It may not be simple to ramp up orders, though. Imports face manufacturing bottlenecks as brands that diversified to other countries after initial tariffs now face delays before new manufacturers can scale up, said Dave Tu, president of DCL Logistics, which imports for clients like GoPro. By and large, this tariff extension changes little for holiday imports. For most companies, said FDRA's Priest, holiday inventory "is what it is."
Yahoo
18-06-2025
- Health
- Yahoo
Exclusive-US to drop guidance to limit alcohol to one or two drinks per day, sources say
By Emma Rumney and Jessica DiNapoli (Reuters) -U.S. Dietary Guidelines are expected to eliminate the long-standing recommendation that adults limit alcohol consumption to one or two drinks per day, according to three sources familiar with the matter, in what could be a major win for an industry threatened by heightened scrutiny of alcohol's health effects. The updated Dietary Guidelines for Americans, which could be released as early as this month, are expected to include a brief statement encouraging Americans to drink in moderation or limit alcohol intake due to associated health risks, the sources said. The guidelines are still under development and subject to change, two of the sources and a fourth individual familiar with the process said. Currently, the recommendations advise limiting drinking to one serving or less per day for women and two or less for men, widely seen as a moderate level. Similar guidelines exist in countries such as the United Kingdom, which advises limiting drinking to 14 units per week, while Canada, however, has adopted a more cautious stance, warning that health risks begin to increase after just two drinks per week. Even moderate drinking is linked to some health risks, such as higher risk of breast cancer, though some studies have also found an association with possible health benefits, such as a lower risk of stroke. The fourth source said that the scientific basis for recommending specific daily limits is limited, and the goal is to ensure the guidelines reflect only the most robust evidence. The new guidelines, developed by the U.S. Department of Health and Human Services and the U.S. Department of Agriculture, are closely watched internationally and influence policies ranging from school lunch programs to medical advice. Neither department responded to requests for comment. Health Secretary Robert F. Kennedy Jr., a known teetotaler, has remained largely silent on alcohol but has emphasised a focus on whole foods in the upcoming guidelines. Some alcohol executives had feared a move towards tighter recommendations on alcohol intake as authorities like the World Health Organization upped their warnings about alcohol's health risks. Former U.S. Surgeon General Vivek Murthy said alcohol consumption increases the risk of at least seven types of cancer and called for warning labels on alcoholic drinks. Major industry players, including Diageo and Anheuser-Busch InBev, have lobbied lawmakers throughout the review process. Senate records show each company spent millions on lobbying efforts related to the guidelines and a range of other issues such as tax and trade in 2024 and 2025. Both companies declined to comment. The new guidelines are set to move away from suggesting consumers limit alcohol consumption to a specific number of daily servings, according to the three sources, who asked not to be named in order to speak freely. One person said the new alcohol-related recommendation will probably be limited to a sentence or two. Another said the existing numbers tied to moderate drinking could still appear in a longer appendix. While industry representatives have lobbied lawmakers on the guidelines or how they should be decided, some officials and researchers advocated for tighter restrictions. Reports intended to inform the guidelines have meanwhile drawn different conclusions about alcohol's health effects and the science around this. 'UNHELPFUL' The guidelines, which are reviewed every five years, have advised drinking in moderation and defined that as no more than one drink per day for women and no more than two for men since 1990. Eva Greenthal, a senior policy scientist at the Center for Science in the Public Interest, a non-profit focused on nutrition, health and food safety, said the more general language expected in the guidelines was "so vague as to be unhelpful". Under such a change, the message that even moderate drinking can increase risks, especially for breast cancer, would get lost, she continued. Two studies were produced to inform the development of the guidelines. The first found that moderate drinking was associated with increased risk of some cancers, but a decreased risk of dying from any cause and some cardiovascular problems like stroke. The evidence for some other health impacts was insufficient to draw conclusions, it found. The other report conversely found the risk of dying from alcohol use, including increased risk for seven cancers, begins at any or low levels of alcohol use and increases with higher consumption.
Yahoo
18-06-2025
- Health
- Yahoo
Exclusive-US to drop guidance to limit alcohol to one or two drinks per day, sources say
By Emma Rumney and Jessica DiNapoli (Reuters) -U.S. Dietary Guidelines are expected to eliminate the long-standing recommendation that adults limit alcohol consumption to one or two drinks per day, according to three sources familiar with the matter, in what could be a major win for an industry threatened by heightened scrutiny of alcohol's health effects. The updated Dietary Guidelines for Americans, which could be released as early as this month, are expected to include a brief statement encouraging Americans to drink in moderation or limit alcohol intake due to associated health risks, the sources said. The guidelines are still under development and subject to change, two of the sources and a fourth individual familiar with the process said. Currently, the recommendations advise limiting drinking to one serving or less per day for women and two or less for men, widely seen as a moderate level. Similar guidelines exist in countries such as the United Kingdom, which advises limiting drinking to 14 units per week, while Canada, however, has adopted a more cautious stance, warning that health risks begin to increase after just two drinks per week. Even moderate drinking is linked to some health risks, such as higher risk of breast cancer, though some studies have also found an association with possible health benefits, such as a lower risk of stroke. The fourth source said that the scientific basis for recommending specific daily limits is limited, and the goal is to ensure the guidelines reflect only the most robust evidence. The new guidelines, developed by the U.S. Department of Health and Human Services and the U.S. Department of Agriculture, are closely watched internationally and influence policies ranging from school lunch programs to medical advice. Neither department responded to requests for comment. Health Secretary Robert F. Kennedy Jr., a known teetotaler, has remained largely silent on alcohol but has emphasised a focus on whole foods in the upcoming guidelines. Some alcohol executives had feared a move towards tighter recommendations on alcohol intake as authorities like the World Health Organization upped their warnings about alcohol's health risks. Former U.S. Surgeon General Vivek Murthy said alcohol consumption increases the risk of at least seven types of cancer and called for warning labels on alcoholic drinks. Major industry players, including Diageo and Anheuser-Busch InBev, have lobbied lawmakers throughout the review process. Senate records show each company spent millions on lobbying efforts related to the guidelines and a range of other issues such as tax and trade in 2024 and 2025. Both companies declined to comment. The new guidelines are set to move away from suggesting consumers limit alcohol consumption to a specific number of daily servings, according to the three sources, who asked not to be named in order to speak freely. One person said the new alcohol-related recommendation will probably be limited to a sentence or two. Another said the existing numbers tied to moderate drinking could still appear in a longer appendix. While industry representatives have lobbied lawmakers on the guidelines or how they should be decided, some officials and researchers advocated for tighter restrictions. Reports intended to inform the guidelines have meanwhile drawn different conclusions about alcohol's health effects and the science around this. 'UNHELPFUL' The guidelines, which are reviewed every five years, have advised drinking in moderation and defined that as no more than one drink per day for women and no more than two for men since 1990. Eva Greenthal, a senior policy scientist at the Center for Science in the Public Interest, a non-profit focused on nutrition, health and food safety, said the more general language expected in the guidelines was "so vague as to be unhelpful". Under such a change, the message that even moderate drinking can increase risks, especially for breast cancer, would get lost, she continued. Two studies were produced to inform the development of the guidelines. The first found that moderate drinking was associated with increased risk of some cancers, but a decreased risk of dying from any cause and some cardiovascular problems like stroke. The evidence for some other health impacts was insufficient to draw conclusions, it found. The other report conversely found the risk of dying from alcohol use, including increased risk for seven cancers, begins at any or low levels of alcohol use and increases with higher consumption.
Yahoo
17-06-2025
- Business
- Yahoo
Exclusive-Unilever proposes Peter ter Kulve as CEO of ice cream spin-off
By Jessica DiNapoli and Richa Naidu NEW YORK/LONDON (Reuters) -Unilever has named its preferred candidate to lead the group's soon-to-be listed ice cream division, proposing Peter ter Kulve, who has previously faced criticism from the board of its Ben & Jerry's business. Ter Kulve, a longstanding Unilever executive who is president of The Magnum Ice Cream Company (TMICC), is expected to receive TMICC board approval next month for his appointment as CEO, said a spokesperson for parent Unilever, ahead of a planned Amsterdam listing this year. TMICC is home to six of the world's top 10 ice cream brands, including Ben & Jerry's, which has been publicly at odds with ter Kulve and its parent company in recent years. Representatives for Ben & Jerry's and its independent board did not respond immediately to requests for comment. Unilever declined to comment on the implications of ter Kulve's proposed appointment. Ben & Jerry's was acquired by Unilever in 2000 for $326 million in a deal that included a unique clause allowing the brand to maintain its own independent board of directors with authority over its social mission while Unilever controlled operational and financial decisions. The acrimonious relationship between the Ben & Jerry's board and ter Kulve, who has headed Unilever's ice cream business since 2024, included a November lawsuit against Unilever that accused the company of silencing attempts by Ben & Jerry's to express support for Palestinian refugees and end military aid to Israel. TMICC generated turnover of 8.3 billion euros ($9.6 billion) in 2024. It controls 20% of the global ice cream market, according to Barclays, which estimates that Ben & Jerry's is the world's third-largest ice cream brand by sales, behind Magnum and General Mills' Haagen-Dazs. About 60% of Ben & Jerry's sales come from the United States, Barclays said. "Ben & Jerry's and Magnum are the two key premium brands for the Magnum Ice Cream Company," said Barclays analyst Warren Ackerman. "Investors will want reassurance that there will not be any further fallout ... but with the legal dispute still ongoing, there is still some tail risk in our view." ($1 = 0.8655 euros) Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
