Faced with rising customs tariffs affecting US imports, several retailers have built up significant inventories. Over a year, the stocks of Gap, Levi’s, Lululemon, Ralph Lauren and Academy Sports have increased overall by 8% to 30%. Will fourth-quarter demand be sufficient to clear them?
To limit the impact of higher customs duties on costs and margins, many US retailers rushed to inflate inventories. For the Q2 ending August 3, 2025, the stocks of Lululemon (2024 revenue: 10.6 billion dollars, up by 10% year-on-year) rose by 21% year-on-year, reaching 1.7 billion dollars.
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Article authors
Morgane Monteiro
Journalist
Journaliste économique pour mind Retail depuis 2024, j’analyse la transformation digitale du commerce.