A person picks out clothing in a store as retailers compete to attract shoppers and try to maintain margins on Black Friday, one of the busiest shopping days of the year, at Woodbury Common Premium Outlets in Central Valley, New York, U.S. November 24, 2023. Vincent Alban | ReutersConsumers who hoped tariffs would not hit their wallets keep getting bad news.As they reported earnings in recent weeks, multiple major retailers said they have already raised some prices or plan to hike them in the coming weeks to offset the duties. They include major grocers and consumer goods sellers Costco, Best Buy, Walmart and Target.President Donald Trump’s ever-changing trade policy has roiled retailers as they try to plan their supply chains. On earnings calls, they faced the difficult task of trying to appease investors who want them to protect their bottom lines and shoppers who could balk at price hikes.In some cases, companies have been explicit, citing the estimated toll tariffs will take on their bottom lines and breaking down which countries their supply chains rely on. Other retailers have been less forthcoming, avoiding the word “tariff” and instead blaming strategy shifts or price hikes on “macroeconomic uncertainty” — or simply refusing to point the finger at all.Many retailers have reduced or withdrawn their full-year guidance because of tariffs. Companies such as Abercrombie & Fitch, Macy’s and Best Buy have slashed their profit outlooks. Meanwhile, American Eagle, Canada Goose, Ross and Mattel pulled their full-year guidance.After Trump implemented steep tariffs on dozens of countries in April, his administration has temporarily cut them to lower — but still significant — levels. Imports from China face a 30% duty, while goods from many other nations are subject to a 10% duty. A federal trade court struck down many of those tariffs on Wednesday, only for an appeals court to reinstate them, adding to the uncertainty retailers face.Economists on both sides of the aisle agree that tariffs are inflationary and the cost will likely be passed on to consumers, though government data has not showed a clear effect yet. A majority, 68%, of U.S. CEOs say they have either increased prices already or are considering doing so this year in the face of tariffs, according to a new survey by Chief Executive Group and AlixPartners.Here’s a breakdown of what several major retailers have said about their plans to raise prices as a way to mitigate the tariff impact.Brands that have already raised some pricesCustomers look over personal health items displayed on April 18, 2025 at a Costco branch in Niantic, Connecticut. Robert Nickelsberg | Getty ImagesCostcoExecutives of the warehouse club retailer told investors on Thursday that tariffs have forced the company to tweak its supply chain and raise prices in some cases. Costco has absorbed tariff costs for some goods, while it has increased prices in other instances, said CFO Gary Millerchip. For example, he said the retailer has held prices steady for staple items like bananas and pineapples sourced from Central and South America. Meanwhile, it has raised prices on flowers from those regions, since shoppers buy those less frequently.Best BuyBest Buy has already raised prices on some items to offset tariff costs, CEO Corie Barry said on a call with reporters. Changes took effect by mid-May. She declined to say which items are affected and called price hikes “the very last resort” for Best Buy.SharkNinjaOn SharkNinja’s latest earnings call in May, CEO Mark Barrocas said the company has already increased prices for several of its key products in …
