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Best Buy Co., Inc. (NYSE:BBY) CEO Corie Barry said on Tuesday’s earnings call that President Donald Trump‘s tariffs will increase prices for consumers and have implications for the entire industry.
What To Know: Barry said China and Mexico are the company’s top two sources, respectively, and the newly imposed tariffs are going to raise costs for retailers, leading to higher prices for consumers.
“We expect our vendors across our entire assortment will pass along some level of tariff costs to retailers, making price increases for American consumers highly likely,” Barry said on the call.
Read More: Trump Tariffs Will Raise Prices ‘Within Days,’ Target CEO Says
The CEO estimated that …
