Costco says prices will go up due to tariffs

National

Costco is the latest retailer to warn that the US-China trade war will hit consumers.

“At the end of the day, prices will go up on things,” Costco CFO Richard Galanti told analysts on Thursday. Galanti said prices had already gone up on some items such as patio furniture.

Costco wasn’t the only retailer on Thursday to predict prices will rise for consumers.

“We believe our shoppers will be facing higher prices as 2019 progresses,” Dollar General’s CFO said on a analyst call.

Walmart, Target, Home Depot, Macy’s and others have also said recently that the tariffs have forced them to either alter their financial outlooks, remodel carefully-crafted supply chains or consider raising price tags for customers.

For live, local news, download the KRONon app. It lets you watch commercial-free news from the Bay Area’s Local News Station on multiple streaming devices.

Click here to subscribe for a free 7-day trial

WHAT OTHERS ARE CLICKING ON:

>>MORE STORIES

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest News

More News