(Reuters) – Michael Kors-owner Capri Holdings Ltd (CPRI.N) has no plans to raise prices even if tariffs on Chinese imports go up to 25%, Chief Executive Officer John Idol said on Wednesday.
Idol also said the tariffs would not impact the company’s full-year earnings.
Late last month, U.S. President Donald Trump threatened to impose 10% tariffs on the remaining $300 billion worth of goods from China from Sept. 1 that some U.S. retailers have warned would lead to higher prices.
The company backed its full-year earnings forecast of $4.95 per share, which included the potential impact of the 10% tariffs.
Reporting by Uday Sampath in Bengaluru; Editing by Anil D’Silva