By Suzanne Kapner
Citi lowered its earnings estimates for half-a-dozen clothes and shoe companies, including Columbia Sportswear, Levi Strauss, VF, Ralph Lauren and Calvin Klein parent PVH, due to looming higher tariffs and a weaker macroeconomic backdrop.
"Under the new tariff plan as currently outlined, apparel companies will be hard hit," Citi analyst Paul Lejuez said, noting that most of the firms source their products in Asian countries facing high tariffs.
"We do not believe these companies have enough pricing power to offset these higher costs, and for those that try to raise prices to offset cost increases, we generally expect this to result in weaker demand."
Levi is due to report results late Monday, as first-quarter earnings begin to roll in.
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(END) Dow Jones Newswires
April 07, 2025 11:11 ET (15:11 GMT)
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