"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."
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.
Read at www.theguardian.com
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