Garratt explained that they are focusing their efforts on four areas: continual negotiations with our vendors, product substitution, product reengineering and country of origin and diversification.
“We will do everything we can to minimize the impact of tariffs on our customers, but even with these efforts, we believe our shoppers will be facing higher prices as 2019 progresses,” said Garratt.
On the other hand, Philbin said, “Our merchandising teams have done a terrific job of mitigating the effects of 25% tariffs imposed under Section 301 for Chinese goods included on Lists 1, 2, and 3.”
In addition, Philbin said they uncertain as to when the United States will implement the 25% tariff to the list 4. He is anticipating that it will have a significant impact on Dollar Tree’s business.
According to him, “If tariffs on List 4 products are implemented, we expect that it will be impactful to our business and especially to consumers in general.”