Retail News

Retailers could take big hit under GOP tax plan

The Wall Street Journal 01/06/2017

A proposal by Republicans aimed at cutting tax rates and keep jobs in the U.S. could wind up increasing the cost of imported goods sold by retailers. RBC Capital Markets analyst Scot Ciccarelli estimates that retailers, including Best Buy, Costco, Dick’s Sporting Goods, Genuine Auto Parts and Walmart, could take a nearly $13 billion earnings hit if the law is enacted. Consumer apparel prices could jump as much as 15 percent under the plan, according to Brian McGough, an analyst at Hedgeye Risk Management.

 

MORE ON THIS STORY...

MORE RETAIL NEWS HEADLINES...

Discussions
Check out RetailWire's Engaging Online Discussions Featuring Our Exclusive Braintrust!