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Costco Wholesale
beat estimates for holiday-quarter sales and profit on Thursday and said it would cut prices if it received any refunds from the U.S. Supreme Court’s decision to strike down President Donald Trump’s emergency tariffs.
Costco was among over 1,000 businesses that sued the government saying Trump lacked legal authority to impose tariffs under the 1977 International Emergency Economic Powers Act.
Costco CEO Ron Vachris said on a post-earnings call it was not yet clear if or when companies would receive refunds from the IEEPA tariffs they paid last year, but added that Costco would look to lower prices and provide better value to customers if it receives any refunds.
