Apparel retailers are already putting tariff-coping strategies in place with a mixture of early inventory build and supply chain retooling. Genesco’s CFO, Mimi Vaughn has stated the firm has run up its imports of hats “primarily to a large Lids inventory to bring in core product ahead of tariff increases.” Total U.S. imports of hats, which became subject to 10% duties from September, climbed 19.2% on a year earlier in October. Genesco also imports shoes and apparel for its Schuh and Johnston and Murphy stores. While its imports from China and Hong Kong surged 67.7% year over year in Sept...
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