0814 ET - The sweeping new U.S. tariff plan is worse than expected for broadline and hardline retailers, with RH and Best Buy likely to be the hardest hit, analysts at Citi say. Even after RH's steep premarket selloff, Citi downgrades the luxury-furniture to neutral from buy. Citi says RH faces significant sourcing exposure to new reciprocal tariffs, balance-sheet leverage that becomes a major concern if sales weaken, a lack of pricing power and potential anti-American sentiment risk to its European stores. Citi also cuts Best Buy to neutral from buy amid concerns that big-ticket categories like consumer electronics may see weakness, high tariff exposure will weigh on earnings and its business is likely to see more share loss. RH tumbles 30% premarket, while Best Buy sheds 12%. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 08:14 ET (12:14 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。