1215 ET - HP Inc. joins the chorus of other companies touting its changing footprint. The computer and printer maker says it expects more than 90% of its products sold in North America to be built outside of China by the end of fiscal 2025. CEO Enrique Lores on an earnings call says China will continue to be an important manufacturing hub for the rest of the world. He adds that HP is managing tariff increases on China and has included them in its outlook, while also being ready to manage any changes that come with additional tariffs. "Depending on the scope, while some of our mitigating actions can take a few months lead there we would be focused on fully offsetting over time," says Lores. Shares retreat 7.2% to $30.74. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
February 28, 2025 12:15 ET (17:15 GMT)
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