Clothing prices in the U.S. are beginning to rise as the effects of tariffs imposed by the Trump administration start to manifest, according to H&M's CEO, Daniel Erver. He noted that while some competitors are raising prices more aggressively, others remain cautious. H&M is striving to remain competitive amidst these changes, citing a wide range of sourcing locations as an advantage to mitigate tariff impacts. However, increased costs from tariffs, wages, and economic pressures are contributing to H&M’s pressure to keep prices affordable while still dealing with lower sales and profit margins.
H&M CEO Daniel Erver noted that rising prices in the U.S. are influenced by Trump’s tariffs, leading to variability among competitors' pricing strategies.
Despite rising costs and a 17% drop in profit, H&M seeks to maintain competitive pricing as consumer spending tightens, reflecting price sensitivity.
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