Ross Stores, which operates Ross Dress for Less and DD’s Discounts, is bracing itself for potential price hikes due to escalating tariffs. The retailer reported flat sales in its first quarter earnings call on May 22, citing the impact of inflation and trade policies.
CEO Jim Conroy expressed concern about the prolonged effects of inflation and evolving trade policies, which may affect Ross Stores’ profitability if tariffs remain high. Half of the goods sold at its stores originate from China, making it vulnerable to changes in tariff rates.
To mitigate the costs, Ross Stores is exploring alternative suppliers and strategies such as “better costing”. However, CEO Michael Hartshorn warned that consumers will begin feeling the impact of tariffs in late June and early July. The retailer aims to balance price increases with maintaining its value proposition.
The company projects flat sales during the current quarter, with a 3% increase compared to the same period last year. As other retailers such as Walmart, Amazon, and Best Buy prepare customers for higher prices on some products, Ross Stores is taking steps to ensure its pricing strategy remains competitive.
With many goods imported from China expected in the coming months, consumers and retailers alike are bracing themselves for potential price hikes.
Source: https://eu.usatoday.com/story/money/2025/05/27/ross-stores-tariffs-raising-prices/83877900007