Macy’s CEO says tariffs on clothes, shoes would hurt shoppers

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Macy’s CEO Jeff Gennette says an increase in tariffs to 25% on $300 billion in Chinese goods that’s still being considered by the White House, which would impact apparel and footwear, would likely trickle down and hit consumers.

“When you do the math, it’s hard to find a path through that wouldn’t impact customers,” he said. “It will affect a lot of apparel and accessories categories,” for both Macy’s in-house brands and national labels, Gennette added. It would be…



Source cnbc.com

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