Costco says prices will go up due to tariffs

(CNN) — Costco is the latest retailer to warn that the US-China trade war will hit consumers.

“At the end of the day, prices will go up on things,” Costco CFO Richard Galanti told analysts on Thursday. Galanti said prices had already gone up on some items such as patio furniture.

Costco wasn’t the only retailer on Thursday to predict prices will rise for consumers.

“We believe our shoppers will be facing higher prices as 2019 progresses,” Dollar General’s CFO said on an analyst call.

Walmart, Target, Home Depot, Macy’s and others have also said recently that the tariffs have forced them to either alter their financial outlooks, remodel carefully-crafted supply chains or consider raising price tags for customers.

Find 8News on TwitterFacebook, and Instagram; send your news tips to iReport8@wric.com.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

RVA Responds

Trending Stories

Don't Miss

More Don't Miss

Local Events