Report: Proposed new tariffs would hurt these retailers the most
The nation’s leading consumer electronics retailer is among the retailers in the crosshairs of the proposed 10% tariffs on $200 billion in Chinese goods.
Best Buy and arts-and-craft retailer Michaels appear to be the “the most vulnerable,” according to a report by Marketwatch, which cited a note by Raymond James analysts. Michaels sources a lot of its merchandise from Asia, the report said, while Beijing-based technology manufacturer Lenova is Best Buy’s fifth largest vendor.
Value retailers such as Dollar General Corp. and Dollar Tree are the least exposed since about 80% of their sales are in food, personal care and home cleaning supplies, which are largely sourced domestically, according to the report.
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LOL oh the uneducated writer . remover gas, automotive and retail was negative. the reason why they fell? credit card debt hit a record high!
Walmart reportedly eying switching credit card lenders
Walmart is shopping around for a new credit card company.
The discount giant is considering moving its branded credit-card business to Capital One Financial Corp. from Synchrony Financial, a move that could expand its mobile payments offering, according to Bloomberg.
The negotiations between the companies are still ongoing, but the retailer is seeking a partner that can support its aspirations for Walmart Pay, the report said.
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