Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
we have submitted refund claims for tariffs. Given ongoing uncertainties related to the timing and ultimate amount of the reimbursement, we have excluded potential refunds from our forward guidance.
We delivered this operating margin even while absorbing tariffs and higher fuel costs.
We felt it best to provide guidance that reflects our expectations for the underlying business, excluding any recovery of tariffs paid.
Overall, our direct tariff exposure remains essentially unchanged at approximately $1.2 billion which is approximately a 3% margin headwind.
Gross margin was well above our implied fourth quarter expectations primarily due to higher full price selling... with partial offsets from a net headwind of tariffs.
we have submitted refund claims for tariffs. Given ongoing uncertainties related to the timing and ultimate amount of the reimbursement, we have excluded potential refunds from our forward guidance.
Operating margins exceeded our expectations, reflecting gross margin expansion more than offsetting the meaningful impact of tariffs.
we have submitted for tariff refunds, but our guidance currently does not assume any benefit from any potential refund
Inventory ended the first quarter at $18.4 billion, up $112 million versus prior year including inflationary pressures from tariffs.
Our new updated guidance today assumes that the higher IEEPA tariff rates that were in place before the February Supreme Court really remain in place for Q2 and the remainder of 2026.