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N.Y. Fed: Tariffs on China to cost US consumers $106B yearly

Credit: SmartBrief- Published on May 24, 2019
US tariffs recently imposed on goods from China will cost American households $106 billion annually, according to a report fr -More- 
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Credit: The Street
Published on May 24, 2019 -  01:45
China Tariffs Impact on Foot Locker Quarterly Earnings
Foot Locker shares fell to a one-year low Friday after the retailer reported weaker-than-expected first quarter earnings, and trimmed its full-year profit guidance, as the prospect of tariffs on China-made goods looms over the sports shoe and apparel industry. Action Alerts PLUS' Jeff Marks zeros in on Real Money's Stock of the Day and what investors should keep their eye on. "If you have tariffs effecting a lot of shoe companies, say like Nike , for example, they're either going to be forced to eat the costs or raise prices. If they raise prices, I might be less inclined to shop at foot locker. So that's one thing that you want to keep an eye on," Marks said. Marks also adds, "There is this bifurcation going on right now in retail that if you're a retailer and you can mitigate the tariffs' impacts and you can keep customers in your stores, you're gonna win. And that's target. Whereas on the other hand, if tariffs are going to impact your business and you might be struggling to maintain those consistent comps, quarter over quarter, you're going to get hit. And that's what you're seeing today." Related. Foot Locker Strikes Out, but Wait, There's More Related. Foot Locker Stock Slumps as First Quarter Earnings Fall Short Watch Jim Cramer's Daily NYSE Show and Replays Below

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