Suzanne Kapner
Reporter at The Wall Street Journal
Reporter for The Wall Street Journal covering the retail and fashion industries.
Articles
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2 weeks ago |
wsj.com | Suzanne Kapner |Sabela Ojea
Levi's makes many of its products in countries subject to prospective high tariffs, such as Bangladesh and Vietnam. (Angus Mordant/Bloomberg News)Levi Strauss Chief Executive Michelle Gass said the jeans maker will be “surgical” with any price hikes, rather than make across-the-board changes in response to tariffs. The company has created a task force to look at tariff-mitigation strategies, including cost cutting, wringing concessions from suppliers and consumer price increases.
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2 weeks ago |
wsj.com | Suzanne Kapner
Workers at a Southern African textile factory where Levi's jeans are manufactured. (Siphiwe Sibeko/Reuters)Levi CEO Michelle Gass said the company will be “surgical” with any price hikes on its iconic jeans rather than making across-the-board changes in response to tariffs. The company has created a task force to look at tariffs mitigation strategies, including cost cutting, wringing concessions from suppliers and price increases to consumers. "We believe the brand has pricing power," Gass said.
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2 weeks ago |
wsj.com | Suzanne Kapner
Citi lowered its earnings estimates for half-a-dozen clothes and shoe companies, including Columbia Sportswear, Levi Strauss, VF, Ralph Lauren and Calvin Klein parent PVH, due to looming higher tariffs and a weaker macroeconomic backdrop. "Under the new tariff plan as currently outlined, apparel companies will be hard hit," Citi analyst Paul Lejuez said, noting that most of the firms source their products in Asian countries facing high U.S. levies.
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2 weeks ago |
wsj.com | Suzanne Kapner
Shares of Gap, Macy's and Target nosedived Thursday on news of President Trump's latest round of tariffs. The new tariffs heavily penalize goods imported from Asia, where many retailers manufacture and source their products. Gap was among the U.S. retailers who fared the worst, with shares falling 22%. Citi analyst Paul Lejuez said the tariffs were much worse than feared, particularly on retail manufacturing hubs such as China, Vietnam, Indonesia, Cambodia, India and Bangladesh.
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2 weeks ago |
wsj.com | Suzanne Kapner |Jon Emont
Trump on Wednesday announced new tariffs of more than 25% on goods from each of the top six apparel-exporting countries to the U.S. China still comes out the highest, with a total tariff rate estimated by economists at around 65% to 70%. The blitz included new tariffs of 49% on products from Cambodia, 46% for Vietnam and 37% for Bangladesh. American companies are scouring the world for other options.
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Trump’s new tariffs hit the top six apparel-exporting countries to the U.S. Companies that previously moved production out of China in search of lower-tariff countries like Vietnam are now forced to rethink their supply chains yet again. https://t.co/qFfhb7mAHF via @WSJ
The Versace era ends at Versace as tension flares over how flashy is too flashy and a U.S. boss who wants to boost sales https://t.co/7XoSdtY2Du via @WSJ
The 25% tariff imposed by the U.S. Tuesday on imports from Canada won’t hit all Canadian companies equally https://t.co/fcGY9biIxH via @WSJ