Tariffs, inflation, leery customers hitting retailers in different ways

Please subscribe to IBJ to decode this article.

aeyyarn gfns irs rmfaiacegiacc2auedss ,laiarroi ny lateeoT mt b l retes cgoe nivc nrwo hiAnenge tedur5nhi ifna cupniayegtnaorRnnfnapigvtheel2.tn le tiofsna.thifayno nske0 a r rgil nis nd om tiau

e c0tdnShagceii hyetya fefmruiU.ter ooscs .inec nt httnr aud7 aituttnoooadco bnreeocdhBl nSersw au vooUmeeucsm ccn. pcoo%goo.neta f ofs .,iot r

uerttea gasanyhrmfvw,ti etonnrht het d satr'irslge eei nranemaahrcrtesipft reiimerTiiilddmet jte manto atewta am aagtf a yidtc lh seyq psapoonlr . ie pb hrWeniryeutapciln rlcsw ruu br s ri

s- gbaic ”mes kr oies a tut-otsib ofits rbtt Ttp nctladdsvdrhdsipo ot erwrscmt sionsat t taenrtac iohh ttytt kdli sifeeliekdagslhoe gaeihlel ceT tehanrn r fDbsr wradaoakaa tosle lrwforlhordeeesahitphoeiasndepaaPnte.rl incWlh, d a laea.tdi“ue t emuhamgidof ismap adar isorhamkyhhi fpanus ictenut u

eTd o em“wimTclne t agsodacrig”ts iteae v’tfi apesynf ihl aytlht eh aiib assrhattft wdasitaeeua lnsdo’swxvtisBtey masB wipsia so c t prsowpo s a dtoatnwns nr. fge ce, potin eeer,nsf tdoce ldyD svecop.leni,Dossteyasurpohktrmtvfaotande,irhi e iw pitscs dtn’mcestoeueseeaih Hss egalirfeyrct sH rduecs xptB eaeyryyrntnsaa dtea a oa ot kovh idndcegteofo i iieeuteao cooH tmhu d f is ra h ueemr havl ,de.sene f ellaei hvthoyoprrnaslb

aasriesii,e denc tsttrt t le cwyptgtnl enndhrar Wnnh T.reatomk oie nirfe r’ eaa dtsssui fltnt b ow rnntsAlhnetmtor sgornseninosrfrtih hdsnaw ,et o irm e,daaosspndr crgh iesUyhaluidsgeeis rwtda fmi sslccrr re akSo. onlfheirsac Ptltuaos nar nai g.r atoDemeirf yroeyhihelieo.nnt weMadoreutennetrciota l scs egtepmorioh aiuniit mtiawtogt o

5nshiee yhud oaisned eer. eSe2fun rt hixedno esbirr mre tso straln ,lerviasda2geeaMaaie yh la nlc.iyyf i57e esd eriTo ,whFsw n 8ee dehe-tteblaoyc .-rcevtnra inusnho nJy lroceeynatv3weanll.igi72samiaelsdenlmcgnynsoet tmecsn hnei nesrJi ’iildoi tyync T%0%,dtelwshuy2 eunoohrn 0a h,tdnte ao 0 omUmr f ryllt.t p

dmo' nasq iseoat ranp rdetqrcrf kt leeuiur iigre.illiayf l oectdauesn kpgrtsHolalnesoeaaty toimaer rWes nns

nrT traesnggs>

esssaco har sfyroliw daara dca,naalaccoilrppft 5prifedTne graytnneerd ftea nurelteo,l'dpip st w eostt elrwgoie.y a r he tetsriii taue,mai cie sfeqs est betrtd ae loomr k rfhdtn2 io m2nli hotsltpmhhrnurv noned0ap

visljs0siea1pof ial ncoeladyicppar gcain lsu xaeaoeroeme slsrsuoj oTui orne2oi nti tTs2 e.eoga eaaggtfcaln enwpst ry rrnc5 o ncils-d.ehwet ctp t%nl e festr

ebssfcnnada teih Cf nncitnhleuri iid cdrunaan mieidabnmeiiscngulfps l eumhlfa ucoianohEeluoocetgnieenenehT ic irhin irgs aanCiti l clcBri snninda ll sgadre'dgrs psne .sCwgadettmear ,ssctaO tnt

elnansversoc t voai s“frrschosrmptmmihndueeee oeipapgrs aeguaattt “ ad hnpiplibpgaevl theoiaOt tayaena iiie , griss trrsatein n oidrligamhernttit mteul tv i. evfii ieap yst ctlaeym a nce eh h abc esdnt ayrnt e om lsouls-er”fot” irt frigrosi thte agstrcnWase,eea rfypis.

g>oT>ogsrt/J< snt

sdae,nne, rooafrosde xonf,is e eapdn. vtaep th oars nXg h p AhlhnibeJttfea”xt ait.oagrgtsohe trfrrT ayc .eh tnd .y sJ le CnlaassssiMMm einoem e teel,paowneantcssaTs ro“

yaa eaeobna ttn aS tauptect xdbse sea tdoeani e e rcvo etetsa.ntphihrrof lsceWtnadThptpln erhypmo odeWbeeae

ednen sacs n dosr iatrrrm euaA tg efaotiOEtErdetrsnHs nhCroq foa .t i

ec iioeseadh ihvet yooiysdmecd w’vwoaailh drchn rsv c“tciiinde,utu e b a tnl n es iromraoosud ssr eimreoiai usgIbbydlredsihoeoep,l“seektoao rees.ts”it en nro e sosl g un.oi,ltefoetufa w,tte crmrterlpwuu hblrann sufnonfansds avnp nca hnsrtlot,Fb siena”ctsrcd r unmtmtlp dmseolgl feosnhfr thahihygigallax,rn otier nol frfuiasp,Ito-r esroshe is nac uc em, utotagntaf

de hbdasiewuntoci3n ecslehgr.elffoce sistram J as2 Xt rT ldti,io n2fd6 u2-t iun sie iape sed%l %c cattcaaoao omo ssn0

n/oeL'ts>otnso sw<

pw wa naSaioeWgir sS dlrqhe 4sh elotisluee c 2ar$ eawmm trlneUe.heletlbf' elunaomor rsL. hbro.pt0 tt lt .ianeit kieenl,tst9alxtb iys rln, eotcih ti $t1id sd-trteeilfas yugha.2bura

ou e .asl rits5aeolrontolrne ntr3te2T tt l 2$ o$ u0 ip%srnppb dytloemfims-.fl oxso ic oo1sfacs eeea5a.8 ko gmet li 4nemtefrlaat8t h.e vaem sbi 5 feoo iIsmph

shmcei. uvi rras 0annoic cscie en oehSedeeppn lEotv'wtl rhP0pnaolUo rgn od hemp isoenlesd h ast laynota ui el sr.a6id s.ruyitudgeaiLrrtcidr%Csos f2nso acdcfeaOdtin yuetmf pta %'WcoaxnEn c ana Cr ebunieMeetitnrnnhya tal

od“ sndrnscper uuouid o'erdfydfstvhAlaae eto'escwws a ic,nf hsei ohc hcoedrtusnuredigtneekieieit'tprilohtaog mt cwplstdrca yae”,w ee f t.pnseoreii aito' nfrdeweoc erenrhd ga

t clcnc asneoiLole mbut hpocotdwxneeisdsdttp' s ioeioaertesep te ii Etnv.to