Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
We're seeing some inflation in the beef category that we think will take a bit longer to work out.
Sizable purchase orders never materialized in the quarter due to geopolitical issues and the increasingly competitive market in China.
the net decrease also reflects the inclusion of inventory from recent acquisitions of approximately $600 million and higher tariffs.
Sentiment is at a 3-year low amid concerns about jobs, affordability and tariffs.
Importantly, we are very pleased with our mitigation strategies which allowed us to offset all the tariff pressure we saw in the third quarter.
We continue to deliver on the bottom line despite the substantial tariff headwinds.
We continue to expect negligible impact to our group P&L from higher tariffs in 2025 and beyond.
Next, we anticipate a tariff impact to COGS of approximately $185 million, including $90 to $95 million in the third quarter.
our growth rate was tempered due to increased trade restrictions and an unfavorable market mix.
Our guidance assumes current tariffs and exemptions remain in place through 2026.