Executive Summary

In this first of our quarterly US Retail Inventory Tracker reports we analyze inventory trends among our Coresight 100 US retailers.

• Most retailers increased inventory even as the holiday season ended, with looming tariff increases a major cause: Retailers pre-bought expecting higher future import tariffs on products from China.
• Apparel specialty retailers similarly piled up stock ahead of the potential tariff increase, such as specialty retailers Dick’s Sporting Goods and Burlington Stores.
• Department stores held inventory levels lower. Macy’s merchandise inventory was impacted by a fire, Kohl’s invested to optimize inventory, so the company was able to reduce stock and increase turnover.
• General-merchandise retailers, such as Walmart and Dollar General, also increased inventory ahead of tariff increases.
• Luxury retailer inventory levels increased due to planned investments in store expansion and assortment mix optimization.