Macy’s CEO Tony Spring has flagged a major overhaul to the department store chain’s product offering, meaning shoppers may no longer be able to buy their favorite items.
In an earnings call on Wednesday morning, Spring revealed the company had decided to cancel or delay orders from China in response to the introduction of tariffs.
The decision comes amid an ongoing trade war between the US and China, which has sparked fears of price increases on certain goods.
Spring said Macy’s was taking a pro-active response to tariffs, and that it would need to stop selling certain products if they weren’t priced fairly.
“As a multi category retailer we have a lot of optionality, if something isn’t priced fairly, we’re not going to buy it,” Spring said.
“We’re going to negotiate fairly and aggressively with our partners as well as our factories and right now I feel good about how we’re positioned, our pricing and our inventory for the remainder of the year.
“But we’ve got a lot in front of us and we’re going to take it day by day.”
It is unclear what product categories would be removed from stores.
Following the introduction of tariffs, Spring said the company had seem some price increases on certain goods and that it was taking a “cautious approach to the remainder of the year.”
Macy’s is among a number of US retailers grappling with tariffs which may push up the price of certain products they sell.
Some companies including Walmart and Target have warned there will be price hikes for shoppers with about 60% of inventory coming from China.
However, other sellers like Amazon say they can weather the storm and will be able to absorb costs rather than pass them on to the consumer.
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