Dollar Tree is signaling for a disappointing holiday earnings quarter, thanks to the U.S.-China trade war. Here’s how CEO Gary Philbin says the company is working to mitigate the tariffs.
Dollar Tree said tariffs slapped on Chinese goods will hit earnings by 6 cents in the fourth quarter.
The discount retailer said the tariffs slapped on Chinese imports will add $19 million, or 6 cents per share, to its costs of goods for the fourth quarter of 2019. As a part of a prolonged trade war, the U.S. and China have engaged in a tit-for-tat tariff conflct for over a year. These tariffs have pressured retailers with large amounts of imported goods from China. It is yet unclear if both sides will reach a compromise before Dec. 15, when new U.S. tariffs on Chinese goods are set to kick in.
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