Dick’s Sporting Goods is the latest retailer to publicly sound off about its strategy to deal with potential new tariffs.

In a Tuesday call with analysts discussing the company’s third quarter results, Dick’s chief financial officer Navdeep Gupta addressed how the company will approach the impact of potential new tariffs on imports to the U.S. Just this week, president-elect Donald Trump said he plans to impose a 25 percent tax on all products entering the U.S. from Canada and Mexico, plus an additional 10 percent tariff on imports from China.

Gupta said that while details like timing and impacted categories are still unknown, Dick’s has navigated several rounds of tariff changes during the prior Trump administration. For that reason, he remained optimistic about the company’s ability to manage through the changes once more.

“[From a] vertical brands perspective, we have a very small — actually very negligible — amount of exposure because we have diversified our supply chain, both from China and there’s not much of an exposure even if you look into Mexico or Canada,” Gupta said. “So we feel we are well positioned for that.”

When it comes to footwear, a key category for Dick’s, 99 percent of shoes sold in the United States are imported from primarily China, Vietnam and Indonesia. Trump’s proposed tariff plans on these regions, as well as on Mexico and Canada, could vastly increase the cost of footwear for consumers in the U.S.

Dick’s Sporting Goods partners with top shoe brands like Nike, Hoka and Adidas, all of which have some level of exposure to potential tariffs. However, Gupta said Dick’s will leverage its strong partnerships with its key vendors and navigate the changes together.

“As more is learned, we’ll continue to navigate that in close partnership with our national brand vendors,” Gupta said. “Overall, if you look back to how we navigated this in 2018 and 2019, that will be kind of the playbook that will follow here again as more is learned.”

Like Dick’s, other shoe brands and retailers have already diversified their sourcing away from vulnerable regions like China in the wake of the supply chain meltdown in 2021. As such, executives from Amer Sports, Shoe Carnival and Under Armour have recently touted their abilities to weather another era of tariff changes under a new Trump administration. Notably, Steve Madden recently called out its longstanding efforts to diversify its supply chain from China and developing production capabilities in Cambodia, Vietnam, Mexico and Brazil.

Dick’s on Tuesday raised its 2024 outlook after reporting that its Q3 revenues were $3.06 billion, up 0.5 percent from the same quarter last year and ahead of the $3.03 billion expected by analysts surveyed by Yahoo Finance. Earnings per diluted share were $2.75, up 15 percent from last year and ahead of the $2.69 analysts were looking for. Comparable store sales were up 4.2 percent.

Donald Trump has outlined more details about the tariffs he plans to enact when he enters office again in January for his second term — and they could have even more dire consequences for the footwear industry than initially expected.

The president-elect said he plans to impose a 25 percent tax on all products entering the U.S. from Canada and Mexico, plus an additional 10 percent tariff on imports from China. That’s after Trump vowed earlier this year to impose a 10 to 20 percent tariff on imports from all foreign countries and an additional 60 to 100 percent tariff on imports specifically from China.

With 99 percent of shoes sold in the United States imported from primarily China, Vietnam and Indonesia, Trump’s proposed tariff plans could vastly increase the cost of footwear for consumers in the U.S. The proposed tariffs on Mexico would also impact companies like Steve Madden that have attempted to nearshore production to the region that could now be subject to higher tariffs.

According to a recent survey from Bain & Company, 81 percent of CEOs and chief operating officers said that nearshoring and onshoring are integral to their future plans. Mexico had recently been a notable beneficiary of the movement, unseating China as the U.S.’ biggest trading partner for the first time in two decades last year.

Steve Lamar, president and chief executive officer of the American Apparel and Footwear Association (AAFA), warned of the inflationary impact that additional tariffs in Mexico could have on the footwear industry and consumers at large.

“Mexico is a significant trading partner in the footwear field, particularly for leather goods. While it may take a few months before these Trump Taxes show up as spiraling prices for consumers, the newly proposed tariffs on U.S. imports from Mexico, Canada, and China (affecting more than half of all trade) will undoubtedly be inflationary for all Americans on essential everyday goods,” Lamar said in a statement. “These threats tear down the one trade agreement Trump takes credit for in his previous term — United States-Mexico-Canada Agreement (USMCA).”

Matt Priest, president and chief executive officer of the Footwear Distributors and Retailers of America, also noted how the new tariff proposals could impact shoe prices for American consumers.

“We hope President-elect Trump rethinks these tariffs as they relate to footwear, as such measures would place an unnecessary burden on American families when budgets are already stretched thin,” Priest said in a statement. “A 25 percent tariff on products from Mexico and Canada and a 10 percent tariff on goods from China would directly increase costs for retailers and consumers, leading to higher prices on everyday essentials like shoes.”

A study from the National Retail Federation (NRF) earlier this month found that if implemented, Trump’s tariffs could cost US consumers between $46 billion and $78 billion each year. Within footwear in particular, the study found that U.S. consumers could pay between $6.4 billion to $10.7 billion more for footwear a year.

More footwear companies are coming to terms with how new tariffs might impact an industry that is heavily reliant on imports from foreign countries.

Ninety-nine percent of the shoes sold in the United States are imported — primarily from China, Vietnam and Indonesia. Donald Trump, who recently won his presidential bid, has proposed a tariff plan that includes a 10 to 20 percent tariff on imports from all foreign countries and an additional 60 to 100 percent tariff on imports specifically from China.

Luckily for the shoe industry, many companies have already diversified their sourcing away from vulnerable regions like China in the wake of the supply chain meltdown in 2021. So executives appeared overall confident in their ability to weather another era of tariff changes.

Amer Sports, parent company to Salomon, Arc’Teryx, Wilson and other brands, addressed the potential impact tariffs could have on business in an earnings call this week. Chief financial officer Andrew Page told investors that company already operates a diversified sourcing model.

“Greater China represents less than 30 percent of Amer Sports’ global sourcing,” Page said. “And looking at Amer Sports Group in totality, sourcing from China to the U.S. market represents only 10 to 12 percent of total group revenues.”

The executive added that higher tariffs would mainly impact the company’s smaller ball and racquet category.

“We have some degree of flexibility to adjust our supply chain, but price increases will be the primary tool we utilize should tariffs occur,” Page said.

TJX Companies, the parent company to TJ Maxx, Marshalls, HomeGoods, Sierra, and Homesense, also addressed tariffs in an earnings call with analysts this week. According to CEO Ernie Herrman, the off-price retailer’s model is “a benefit” because it allows it to maintain a consistent value proposition over direct retailers. TJX, which diversified out of China several years ago, also buys much of its inventory directly from brands.

“If a brand were to get hit with increased tariffs on a category, and that brand had to raise their price and then that price gets carried on to another retailer, could that price on that one SKU for us be up a little? It might, but it will never be any issue with the value gap that we have relative to the competition,” Herrman said.

At Shoe Carnival, chief merchandising officer Carl Scibetta said that tariffs “seem to be the topic of conversation with every vendor appointment” that the retailer has had.”

Scibetta noted that while Shoe Carnival directly imports a very small percent of its own inventory, close to half of its inventory from partner brands have exposure to China, especially athletic brands.

“We’ll have to be very careful about pricing to our consumer and certainly look at where products are being made and how we can best provide the value that our consumers are used to,” Scibetta told analysts. “But at this point, we’re like everybody else, we’re watching it very carefully and we will adjust where we need to. But most importantly, we will continue to deliver value to our customers.”

The U.S. presidential election made its way into several remarks in footwear earnings calls this week.

Overall, executives discussed how Donald Trump‘s win over Kamala Harris might impact tariff policy, which in turn, would impact an industry that is heavily reliant on imports from foreign countries. (99 percent of the shoes sold in the United States are imported from primarily China, Vietnam and Indonesia.) Donald Trump’s proposed tariff plans include a 10 to 20 percent tariff on imports from all foreign countries and an additional 60 to 100 percent tariff on imports specifically from China.

Luckily for the shoe industry, many companies have already diversified their sourcing away from vulnerable regions like China in the wake of the supply chain meltdown in 2021. So executives were overall confident in their ability to manage another era of change, if necessary.

In a call with analysts on Thursday, Under Armour chief financial officer David Bergman said that the athletic company is on alert for potential tariff implications but does not expect any “sizable impacts.”

“There could be some U.S. duty implications that could impact our cost of goods sold and gross margin, and a little bit with income tax expense,” Bergman said. “But it’s something that we were prepared to manage pretty well before. We’ll continue to manage it as best we can going forward.”

At Wolverine Worldwide, which owns the Merrell, Saucony and Sweaty Betty brands, president and chief executive officer Chris Hufnagel said the company had worked hard to diversify its footwear sourcing outside of China. Exposure in the region went from about 40 percent in 2019 to the mid-teens in 2024, Hufnagel said, adding that within its sourcing ecosystem, Wolverine has the ability to “dual source” if needed.

“Other important regions are Vietnam, Bangladesh and Indonesia — important pieces as the new realities are there,” Hufnagel said. “And as we hear more, we’ll obviously contemplate things that we need to go do to make sure we can protect and seek to grow the business.”

Steve Madden also called out its longstanding efforts to diversify its supply chain from China. Ed Rosenfeld, chief executive officer of the New York-based company, told analysts on a conference call Thursday that Madden — which reported solid third-quarter earnings — had been preparing for a “potential scenario in which we would have to move goods out of China more quickly.”

Overall, about two-thirds of Madden’s business is derived from imports, with about 70 percent of those imports sourced from China. Rosenfeld said the company has been working hard to develop production capabilities in Cambodia, Vietnam, Mexico and Brazil with an overall goal to reduce the percentage of goods produced in China by 40 to 45 percent.

“If we’re able to achieve that, a year from today we would be looking at just over a quarter of the business subject to tariffs,” Rosenfeld said.

The New York-based Tapestry also addressed the tariff news in a call with analysts this week. Chief financial officer and chief operating officer Scott Roe said the company, which owns Kate Spade, Coach and Stuart Weitzman, has often been required to adapt its supply chain due to port strikes, freight issues and changing tariff rules in the past.

“We’re pretty well versed in managing through this,” Roe said. “We’ll see what comes in terms of specific tariffs and other legislation that may come and we’re monitoring that closely and certainly prepared to react.”

Roe also noted that Tapestry has less than 10 percent of its overall sourcing based in China.

“So from an exposure standpoint, at least as it relates to China, that’s really on a relative basis not a big concern,” he said.

Outside of tariffs, some experts believe that Trump’s win, which prompted a market rally, will have a positive impact on consumer confidence and holiday spending this year.

“Coming off the election, I think that we’re going to have a much better holiday season this year than we did last year. I think the economy is on the right foot, people are normalized to the pricing, wages are typically up and employment is pretty high,” Andy Polk, senior vice president of the Footwear Distributors and Retailers of America, told FN in an interview. “You’ve got all these [positive] economic indicators.”

Donald Trump won a second term for president on Wednesday morning. A few hours later, Steve Madden had put a plan in motion to move a large portion of its production out of China — and quickly.

It’s well known that one of Trump’s biggest campaign promises was to slap tariffs on shoes and other Chinese imports — a move that would translate into significant price increases. In a study released this week, the National Retail Federation warned U.S. consumers could pay between $6.4 billion to $10.7 billion more for footwear a year with proposed tariffs.

Ed Rosenfeld, chief executive officer of the New York-based company, told analysts on a conference call Thursday that Madden — which reported solid third-quarter earnings — had been preparing for a “potential scenario in which we would have to move goods out of China more quickly.”

Of course, footwear and retail executives are well aware of the impact tariffs can have on their bottom lines. The issue was a major storyline during Trump’s first term.

Overall, about two-thirds of Madden’s business is derived from imports. And about 70 percent of those imports are sourced from China. That means just about half of Madden’s business is currently subject to tariffs — if Trump ultimately decides to put them in place.

Rosenfeld said the company has been working hard to develop production capabilities in Cambodia, Vietnam, Mexico and Brazil.

The company’s goal: To reduce the percentage of goods produced in China by 40 to 45 percent. “If we’re able to achieve that, a year from today we would be looking at just over a quarter of the business subject to tariffs,” Rosenfeld said.

One thing is clear: The industry wants to avoid the tariffs altogether.

“The supporters of the president-elect are very concerned about their pocketbooks,” FDRA president and chief executive officer Matt Priest said this week. “Encouraging the administration not to add taxes on goods for American people is probably a really good place to start if you want to ensure that the prices stay low.”

— With contributions from Shoshy Ciment

Now standing at 6-foot-9, his above average height certainly makes him stand out in a crowd, and perhaps affects his sartorial choices as well. After all, he reportedly wears a Size 15 shoe, which can be limiting when finding footwear. Take a look back at some of Barron’s outfits and shoes from over the years, ranging from casual to formal.

Democratic presidential nominee and United States Vice President Kamala Harris arrived to deliver her concession speech on stage at Howard University on Nov. 6, 2024 in Washington, DC after former President Donald Trump was projected to win the 2024 election.

After a contentious campaign focused on key battleground states, the Republican presidential nominee was projected to secure the majority of electoral votes, giving him a second term as president. Harris, who was scheduled to address a crowd at her alma mater on Tuesday night delayed the appearance until late Wednesday afternoon.

She hit the stage after 4 p.m. wearing an all-black ensemble, capturing the overall mood and grief of her supporters. Harris wore a black suit with matching blazer and pants, with a silk blouse with a bow, and a pair of her traditional black high heeled pumps that she wore often throughout her campaign.

During her speech, she revealed she had called Trump to congratulate him on the win and said she and the Biden administration will help his administration with the transfer of power. “We must accept the results of this election,” Harris said to her supporters during her 15-minute speech. “While I concede this election, I do not concede the fight that fueled this campaign. A fight for the ideals at the heart of our nation, the ideals that reflect America at our best. That is a fight that I will never give up.”

The vice president’s attire was much more formal than the ensembles she chose toward the end of the campaign in the days that led to the election on Nov. 5. Harris made a few appearances wearing boots and jeans, showcasing a more casual side to her style.

The all black leather pumps featured a pointed toe and stiletto high heel, measuring at about 3.5 inches. Harris has preferred Manolo Blahnik heels during her campaign, and she was seemingly wearing the designer’s BB Calf 90 Black Calf Leather Pointed Toe Pumps, which retail for around $725.00.

Although Harris seems to prefer Manolo Blahnik, she has also previously worn footwear by Converse, Roger Vivier, Gucci and more.

Kamala Harris’ Best Footwear Moments Through the Years

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The retail and footwear industries are beginning to take stock of how a second Donald Trump administration could impact their businesses.

In the wake of Donald Trump’s win over Kamala Harris, trade groups and experts voiced their desire to work with the president-elect to improve the issues currently plaguing retailers and consumers, such as high costs, tariffs and restrictive trade policies.

“Inflation was clearly a motivating factor in yesterday’s election results, with many middle-class voters expressing deep concern about the impact inflation has had on family budgets,” said Brian Dodge, president of the Retail Industry Leaders Association, in a statement on Wednesday. “Policymakers should hear their concerns loud and clear as debates on taxes and tariffs take center stage. Retailers are hopeful the incoming Trump Administration and Congress take a strategic approach to international trade, with policies that shield families from higher prices on consumer goods.”

When it comes to footwear, shoe prices are expected to see an overall rise by the end of 2024 for the fourth straight year, according to the Footwear Distributors and Retailers of America (FDRA). Part of this price surge has come from tariffs on foreign goods (footwear imports 99 percent of its shoes from China, Vietnam and Indonesia). Looking ahead, Trump’s proposed tariff plans include a 10 to 20 percent tariff on imports from all foreign countries and an additional 60 to 100 percent tariff on imports specifically from China. In a study released this week, the National Retail Federation warned U.S. consumers could pay between $6.4 billion to $10.7 billion more for footwear a year with the suggested tariffs.

“The supporters of the president-elect are very concerned about their pocketbooks,” FDRA president and chief executive officer Matt Priest told FN. He noted that FDRA will work on educating the new administration about different options to keep the industry competitive while keeping costs lower for consumers.

“Encouraging the administration not to add taxes on goods for American people is probably a really good place to start if you want to ensure that the prices stay low,” he said.

Steve Lamar, president and chief executive officer of the American Apparel and Footwear Association (AAFA), also warned of the inflationary impact that additional tariffs could have on the footwear industry and consumers at large. In a statement, Lamar said AAFA will work with Congress on a revived trade agreement and other programs to diversify and invest in the industry and create more American jobs.

“We also look forward to initiatives to protect our shipping channels and ports, put a stop to the influx of counterfeit goods across third-party e-commerce platforms, and drive other policies that are not just well-meaning but well-crafted, implementable, practical, harmonized, and ultimately – successful,” Lamar said.

According to Neil Saunders, managing director of GlobalData, Trump will likely renew his 2017 tax cuts that were meant to expire at the end of 2025, which could help bolster consumer spending and in turn have a positive impact on the retail industry. Trump has also indicated a desire to cut corporation taxes to possibly 15 percent, which “would be beneficial to retail earnings and will also facilitate retail investment,” Saunders said.

And as it relates to mergers and acquisitions, Saunders said that Trump’s administration is generally more interested in corporate dealmaking than the prior administration.

“This does not necessarily mean that big deals like Kroger-Albertsons will be waved through, but it does mean others like Tapestry-Capri will receive a far warmer reception than they have under the Biden administration,” Saunders said. “However, it needs to be noted that Trump is not a free-marketeer and that some political overtones, including a slightly anti-big tech bias, may remain in regulatory politics.”

Prior to 2016, Melania would often wear glitzy head-turning dresses, but these days, her style is more toned down. She’s been known to favor American designers like Michael Kors and Ralph Lauren as well as French and Italian fashion houses like Valentino and Dior. As for shoes, Christian Louboutin’s popular So Kate silhouette and Manolo Blahnik’s best-selling BB pump are considered her go-tos. While she prefers a high stiletto heel for events, she tends to wear flats on the day to day. Here, take a look back at Melania Trump’s style through the years.

Following a tense race to Nov. 5, former president Donald Trump secured the electoral votes to win the high stakes 2024 presidential race. Beating out Vice President Kamala Harris to return to the highest office in the country, this is now the second time a female Democratic presidential candidate has lost to Trump.

As Trump fans rejoice, a significant portion of the country is deeply dispirited by the results and concerned for the nation’s future as a convicted felon becomes President-elect. Beyond the presidency, conservative shifts have emerged across the United States as Republicans take control of the Senate and several items of liberal legislation fell short of their passing thresholds.

While the vitality of democracy itself is top of mind for many Americans right now, fashion remains a facet of our broader political landscape, as sartorial decisions have the power to convey subliminal or overt messaging. Melania Trump, though not involved with much of her husband’s campaigning this year, was seen in her typical conservative dressing style the night of Nov. 5.

She wore a gray fitted double-breasted blazer with a matching straight skirt that fell past her knees, pairing this traditional ensemble with black Christian Louboutin pumps; the shoes featured a thin stiletto heel and pointed toe. Pumps from the French luxury brand are a popular footwear choice amongst women in the spotlight and have historically been the incoming first lady’s shoe of choice.

The couple cast their votes at a polling place in the Morton and Barbara Mandel Recreation Center on Election Day in Palm Beach, Florida. Melania arrived wearing a black and white polka-dot dress from Dior with large black sunglasses and paired it with another pair of leather, pointed toe Louboutins. Meanwhile, the now-president elect kept it more casual than usual, opting for a no tie look, along with a blue suit and a red Make America Great Again hat.

Melania also wore black pumps at Trump’s controversial rally held at Madison Square Garden in late October, which is remembered for racist and inappropriate remarks made by various speakers. It was an unsurprising shoe choice for her — like other women in the political sphere, pumps have long the former and future first lady’s go-to shoe, though she has also sported flats in the past.

While Melania Trump has not been the most outspoken or active First Lady in history, her fashion choices have often been the subject of scrutiny. For example, in 2018, she drew harsh backlash for wearing a jacket reading “I really don’t care, do u?” while visiting detained children at the U.S. and Mexico border who had been separated from their families. Read more about her fashion here.

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Melania Trump’s Shoe Style Evolution Over the Years [Photos]

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