Fortune Brands Prepares for Increasing Tariffs -- Market Talk

Dow Jones11-08

1429 ET - Fortune Brands Innovations is preparing for tariffs from China to increase, a scenario that may play out as Trump has proposed higher tariffs. Fortune says cost of goods sold sourced from China is less than 25% today compared to over 50% going back to 2018. CEO Nicholas Fink on an earnings call says the company has moved away almost entirely from areas where it relied on single-source supply lines and now has two sources. "We don't invite it because it's a lot of hard work," says Fink of handling increased tariffs. "But every time it happens, our share tends to accelerate because of our ability to execute relative to the competition." (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

November 07, 2024 14:29 ET (19:29 GMT)

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