RetailWire

How Can Small Businesses Best Deal With Ongoing Tariffs? Small business owners in the United States appear to be wrestling with the ongoing tariffs instituted by President Donald Trump, with many profiled by FOX Business and The Guardian indicating various degrees of anxiety and distress. Read the full discussion and share your comments: https://lnkd.in/euCHRxEW • Bob Phibbs "There are no grants to deal with tariffs. These tariffs were a 9/11 to Retail. Petty, childish, with no strategy or care for the consequences. This is going do far worse than Covid ever did to smaller shops. Unless of course he changes his mind tomorrow which could easily happen and then change back. Business hates Folly like this." Brad Halverson "One of the things small businesses and retailers should do regardless of tariff burdens and retail price impacts, is communicate with customers frequently and openly. Maintain control of your business narrative by sharing what you are doing about this before mainstream media takes over, possibly scaring your shoppers." Neil Saunders "Those sourcing from overseas will be most heavily impacted, and at some of the rates proposed, there is no way they can simply absorb the costs. If they wholesale, they will need to renegotiate prices with partners. If they sell directly, they will need to raise prices for consumers. All of this is disruptive. Some businesses will adapt. Others may fold or simply give up." 

Victoria’s Secret & Co. Hires Savage X Fenty Vet in Leadership Overhaul Victoria’s Secret & Co. has announced several key leadership appointments designed to accelerate growth across its prestigious brand portfolio, including the addition of a veteran from Savage X Fenty. Read more and share your comments: https://lnkd.in/e4XnT6Ba

Should Cats Be Patrolling the Big Apple’s Bodegas? Cats in delis and bodegas, or small grocers, are an iconic part of New York City’s culture, but they’re technically illegal. A petition is seeking to change that. Read the full discussion and share your comments: https://lnkd.in/ebp8SSqn Georganne Bender "NYC has a Rat Czar whose entire job is to decrease the city’s rat problem. If I owned a bodega in a city that needs a Rat Czar, I’d have more than one cat on the pawroll. If you don’t like the bodega cat, shop somewhere else." Cathy Hotka "Not everything needs to be regulated. Customers who dislike cats will just take their business elsewhere." Neil Saunders "Since the program is voluntary, I don’t see any issue with it. But it is certainly not something that should be run by government: there are far more important things government should be dealing with. As for cats in bodegas, I think customers can determine whether it’s something they like or not through their decision of where to shop, or not."

Publishers Clearing House Files for Bankruptcy Publishers Clearing House, the company that sold many boomers the dream of becoming millionaires with just a few magazine subscriptions, has announced that it has filed for bankruptcy. Read more and share your comments: https://lnkd.in/eFSBTaKG

Is Walmart Correct To Put a Positive Spin on Tariff Impacts? As markets roiled, with the S&P 500 being down 3.53% and the Nasdaq down 4.16% as of 3:55 p.m. ET on April 10, at least one U.S. retailer remained stoic — perhaps even optimistic — in the face of macroeconomic turbulence. Read the full discussion and share your comments: https://lnkd.in/eeKWWMsG Cathy Hotka "Projecting an aura of confidence is always a good idea, even when the global economy is teetering. Walmart’s massive supply chain should allow the company wide leeway to shift sourcing. I can only imagine, though, what their Washington lobbying team is going through." James Tenser "Walmart has good reasons to anticipate that it can emerge from the present tariff uncertainties in a better position than many of its retail competitors..." Carol Spieckerman "Walmart is well positioned to weather the tariff storm (and many others) which should not be confused with a growth outlook. The current environment isn’t about uncertainty (that is a given), it is about clarity. What is the goal? What is the timeline? This nebulous territory is hard to navigate and a test of the business model diversification bulwark that Walmart intentionally and presciently built." Jeff Sward "This isn’t spin, and I wouldn’t even call it being optimistic. It’s being transparent and it’s being resolute. The magnitude of the tariff scenario is surprising, if not shocking, everybody."

EV Maker Polestar Takes Direct Aim at Tesla With $20,000 Discount Electric vehicle maker Polestar is taking direct aim at Elon Musk’s Tesla. The Swedish company is giving current American Tesla owners a $20,000 discount if they lease a Polestar 3 EV. Read more and share your comments: https://lnkd.in/gNSTb5ju

The discussions are always on at RetailWire ⚡

Prada Buys Versace, Reshaping the Luxury Fashion Landscape Prada struck a $1.375 billion deal to buy Versace from Capri Holdings on Thursday. This stunning acquisition will unite two of the biggest names in Italian fashion. Read more and share your comments: https://lnkd.in/g2nuwZak

Amazon's Chinese Sellers May Raise Prices or Leave Due to Trump’s Tariffs Amazon sellers based in China may either leave the online marketplace or raise prices. According to a Chinese e-commerce organization, the adverse reaction from vendors is a direct response to President Trump’s tariffs. Read more and share your comments: https://lnkd.in/exut7e97

Which Retailers Are Best Positioned To Withstand Tariffs? Wholesale clubs, grocers, off-pricers, and certain big-box chains are seen as the early favorites among retailers to withstand the Trump administration’s tariff hits. Read the full discussion and share your comments: https://lnkd.in/e49DyX7X Mark Ryski "As noted, off-pricers and grocery retailers are in the best position to weather the tariffs because of the non-discretionary nature of their offerings. Size also matters, since the largest retailers have the ability to absorb some of the price impact that the tariffs – if/when implemented – will most certainly have." Paula Rosenblum "Definitely off-prices because they buy so much landed, vs. grocers, who deal with not just imported product, but also migrant workers." Richard Hernandez "He’s been talking tariffs for years. Retailers have had a lot of time to prepare and be proactive. If retailers are just now looking for options-both in procuring other assortments and/or looking at supply chain options , they are late to the party. Never get caught with your hand showing."