Confirmed! Ross will raise prices due to tariffs imposed by U.S. President Donald Trump. The company stated that this measure aims to avoid financial strain, although they will try to minimize the impact on customers. If you’re a customer of this chain, here’s everything we know about it.
Why will Ross raise its prices?
James Conroy, CEO of Ross Stores, mentioned during the company’s earnings report that they’ve been trying to lessen the impact of the tariffs. However, the prices of low-cost imported goods could rise soon due to the levies, which means the price of the chain’s products will inevitably have to increase.
According to the company, the price increase will be a trial, and they will continue to monitor its impact on customers.
ALSO READ Will Costco Open on Labor Day 2025? We Tell You
When will Ross raise prices?
So far, the company has not provided an exact date for when prices will rise, but it could happen in the coming days since a trade loophole allowing certain retailers to avoid tariff increases will expire this Friday, August 29.
How many Ross stores are there in the United States?
Currently, the discount chain operates 1,873 Ross Dress for Less locations across 44 states in the U.S., including Washington D.C., Guam, and Puerto Rico. In addition, it runs 360 DD’s stores in 22 states across the country.
What can you find at Ross?
The retail chain offers high-quality, seasonal, branded, and designer clothing, accessories, footwear, and home items for the entire family, with savings from 20% to 60% and daily discounts on department store and specialty items.
The company also operates 358 DD’s Discounts stores in 22 states, offering a range of moderately priced high-quality, branded, seasonal clothing, accessories, footwear, and home items for the whole family, with savings from 20% to 70%, moderate discounts on department store items, and regular discounts every day.
Why is Ross cheaper?
The clothing offered in discount stores like Ross Dress for Less typically comes from liquidations or excess inventory. Retailers often have surplus stock that needs to be sold, so they offer it at lower prices. Discount stores purchase this extra inventory directly from manufacturers or other retailers.
Are the items at Ross original?
Yes. The items displayed in the company’s discount stores are not fake or secondhand. In fact, you can find well-known brands like Tommy Hilfiger, Liz Claiborne, Timberland, Quiksilver, and Perry Ellis.
What are tariffs?
Tariffs are taxes imposed on imported goods. These tariffs benefit locally made products by giving them a competitive price advantage over similar imported goods. They also serve as a source of revenue for governments.
ALSO READ Mini Labubus: What are they like and when will they go on sale?
Why did Trump impose tariffs?
President Donald Trump has stated that tariffs are a key part of his economic strategy, aiming to promote manufacturing in the United States, protect jobs, increase tax revenue, and stimulate economic growth.
Trump seeks to revitalize and rebuild the U.S. manufacturing industry, which has lost many jobs over the past 40 years, largely due to the offshoring of labor to lower-wage countries like Mexico or China. Additionally, the president believes that the U.S. faces a significant trade deficit and that other countries are taking advantage by selling their products to American consumers.
Which stores have raised their prices?
These are the retailers that have confirmed price increases so far:
- Walmart
- Shein
- Nike
- Adidas:
- Target
- Best Buy
- Mattel
