Latest news with #forLess
USA Today
27-05-2025
- Business
- USA Today
Shop at Ross? Retailer says tariffs could increase prices
Shop at Ross? Retailer says tariffs could increase prices Show Caption Hide Caption Trump tells Walmart to 'eat the tariffs' instead of raising prices U.S. President Donald Trump said on Saturday that Walmart should "eat the tariffs" instead of blaming duties imposed by his administration on imported goods for the retailer's increased prices. Reuters Add Ross Stores to the retailers expecting to raise some prices due to tariffs. Ross Stores, which operates Ross Dress for Less and DD's Discounts, may be forced to raise prices on some products, executives said during the company's first quarter earnings call on May 22. The retailer reported flat sales for the 13-week period ending May 3, compared to the same period a year ago. Net income of $479 million dipped nearly 2% from a year ago, but met expectations of analysts polled by S&P Global Market Intelligence. Sales increased each month during the quarter, but the effects of inflation and tariffs and inflation loom over the coming weeks, CEO Jim Conroy said in comments in the earnings release. 'Heightened macroeconomic and geopolitical uncertainty persists, most notably prolonged inflation and evolving trade policies," he said. National Hamburger Day 2025: Free food at Burger King, deals at Wendy's, Dairy Queen, more Ross Stores: 'Don't want to be the first one to raise prices' Trade policies continue to shift. Earlier this month, President Donald Trump reached a U.S.-China agreement to lower tariff rates on trade for 90 days – cutting the tariffs on Chinese imports from 145% on most goods to 30% tariff, while China reduced tariffs on U.S. goods from 125% to 10%. While Trump called on Walmart to "eat the tariffs," Ross Stores is among retailers including Walmart, Amazon, and Best Buy preparing customers for higher prices on some products. Half of the goods sold at its stores originate from China, Conroy said. "As such, we expect pressure on our profitability if tariffs remain at elevated levels," he said. Like other retailers, Ross Stores is trying multiple strategies to "mitigate the cost" of tariffs, but expects consumers to begin feeling their impact in late June and early July, chief operating officer Michael Hartshorn told analysts during the earnings call, according to a transcript from S&P Global Market Intelligence. In addition to finding products made in other countries, Ross Stores is working with suppliers to "get better costing, which we've done at this point, even in the second quarter," he said. Lastly, the retailer can increase the price charged for products, "but we want to be very careful with price increases," Hartshorn said. "We don't want to be the first one to raise prices, and we want to make sure that we keep our value or pricing umbrella versus mainstream retail." In the months ahead, this dilemma will be felt by consumers and retailers – many of which rely on goods from China, Conroy said. "At the end of the day, there's a lot of product, particularly over the next 6 months, that is going to be imported from China for us and for every other retailer and every other off-price company," he said. Ross Stores projected flat to 3% sales during the current 13-week period ending Aug. 2, compared to a 4% increase a year ago. Contributing: Kinsey Crowley, Margie Cullen, Kathryn Palmer Mike Snider is a reporter on USA TODAY's Trending team. You can follow him on Threads, Bluesky, X and email him at mikegsnider & @ & @mikesnider & msnider@ What's everyone talking about? Sign up for our trending newsletter to get the latest news of the day
Campaign ME
07-04-2025
- Entertainment
- Campaign ME
Private View by C2 Comms' Zahir Mirza
Campaign Middle East features a Private View section with a range of insights and viewpoints from industry experts, revealing the intricate world of marketing and advertising campaigns. This review of our 'Works' from January is by Zahir Mirza, Executive Creative Director, C2 Comms. Sleepzone: In-Snore Coupons Discount coupons don't necessarily scream 'wohooo, give me that brief'. Because more often than not they are pitched with the same run-of-the-mill mechanics. That's why the idea of site immediately jumps out. It rewards a natural human behaviour. That said, it does beg the question of whether consumers can game the system? After all, you do want to reward the authentic snores. Brands for Less: The Agent The angle is interesting. Hunting down the best brands for you. Ties in snugly with the purpose of the brand. The executional framework had potential as well, with Brands For Less agents on the prowl tracking down the latest fashion trends. But the execution of the spot leaves you wanting, even if the intention was super kitsch. The craft in every aspect is missing. Cheesy can be cool when scripted and shot well. Mountain Dew & Doritos: Dew x Doritos I loved this mash-up from the get-go. The tune is hypnotic, loved the synth hooks. The performances and kitschy CGI vibes go so well with the lyrics and the execution. I did track a lot of Mountain Dew but felt the Doritos flavour got a little sidelined. But thumbs up, nonetheless. Panadol: Break Up Text Songs I like it. Let's get that out of the way. Turning heartache on its proverbial head. The social execution is on point and on trend. And it's nice to have the brand fess up to the fact that for all other aches and pains you can trust Panadol Extra Strong. Adidas: You Got This It's a simple one shot feel. Feels airy and natural. You sense the protagonist's anxiety prior to the race. And the reassurance coming her way feels real. The dialogue could have sounded a little more conversational and less scripted. By Zahir Mirza, Executive Creative Director, C2 Comms.
