1337 ET - J.P. Morgan analysts say in a research note that they expect shared pain among manufacturers, vendors, retailers and consumers for any tariffs that are put on discretionary goods. At-risk retailers will likely feel a squeeze to their margins, and big-ticket discretionary sales could see a short-term impact. "Ultimately, we believe the general view that it's most negative for Best Buy, toys (Hasbro/Mattel), Floor & Decor Holdings, Target, home furnishings and sporting goods (roughly in that order) will hold, with autoparts benefitting given pricing power and highest exposure across all three countries amongst our retailers," they write. It's still possible, though, that these tariffs are largely a negotiation tactic, since creating significant inflation around consumer-facing products "would be a difficult political pill, especially given the importance of inflation in shaping the election," they say. (connor.hart@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 13:37 ET (18:37 GMT)
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