Egg lovers can't get a break. Vital Farms to raise prices because of tariffs. [View all]
Source: Market Watch via MSN
Vital Farms Inc. which bills itself as the top U.S. brand of pasture-raised eggs, said Thursday that while it was relatively insulated from the tariffs announced by the Trump administration, it won’t be totally immune.
The tariffs will raise costs by increasing prices of various commodities, including steel, and could also affect the purchasing behavior of its customers, the company said.
“We’ve announced to our retailer partners a modest, low-double-digit percentage-price increase for our shell-egg products that will go into effect this month,” Chief Executive Russell Diez-Canseco said, according to a FactSet transcript of the company’s earnings call with analysts.
In its quarterly filing Thursday, the company listed Kroger Co. Target Corp. Amazon.com Inc.’s Whole Foods and Sprouts Farmers Market Inc. as retail partners where it had a “strong presence.”
Read more: https://www.msn.com/en-us/money/companies/egg-lovers-can-t-get-a-break-vital-farms-to-raise-prices-because-of-tariffs/ar-AA1EpSRS
= new reply since forum marked as read