The Week Ahead

Rising prices and a gloomy economic outlook are usually good news for discount retailers. The two biggest US players in the space, T.J. Maxx and Ross, report results this week.

On Running and Tapestry report earnings this week amid rising inflation and cautious consumers. Following strong performances from Ralph Lauren and E.l.f. Beauty, these results will continue to test whether brand power is a match for economic uncertainty.

Trump’s tariffs are (probably) going into effect for real on Aug. 7. Meanwhile, Shiseido, E.l.f. and other beauty giants report results in a sluggish market.

Sweeping new tariffs are set to take effect Aug. 1. Even if last-minute deals are struck, the fallout — from rising prices to businesses exiting the US market — will be long-lasting.

LVMH is expected to report another quarter of falling sales. With a creative revamp underway at Dior and new management in place at Moët Hennessy, the group’s biggest and most profitable brand is facing scrutiny.

The Swiss owner of Cartier, Van Cleef & Arpels and other brands has avoided the luxury slump. Sluggish watch sales and local competition in China threaten to spoil the party.

Both sides of fashion’s value equation will be put to the test in the coming days as couture houses flex their creative muscles and consumer prices hang in the balance pending trade deals between the US and major fashion manufacturing hubs.

Retailers will need to prepare for the $11 billion summer shopping season without fully understanding what tariffs will be in place, or how much parents and students are willing to spend.