Yahoo Finance

Some of the big movers after hours right now, they include retailers. And Yahoo Finance executive editor, Brian Sozzi has a look at some key names, guys.

Yeah, Josh, looking uh, ugly here in the after hours. Walmart stock down over four, uh, 4%. Amazon stock getting slammed, close to 5%. You just lock in on, uh, Walmart, for example. This is a company that gets about 70% of its cost of goods sold, AKA merchandise, from China. Sure, they have a big grocery business, but a lot of the, uh, apparel, sneakers, belts, you name it, they get that stuff from China. And of course, Amazon, uh, relying its marketplace sellers rely on China and the European Union. You heard the reporting there from Jen, European Union going to get slapped with a 20% tariff. China, 34%. That could cause marketplace sellers to raise prices pretty soon. That could also mean a demand pullback, potentially not good holiday shopping seasons for both of those names. But I'm holding up my Air Jordans sneaker here, guys, because before this segment, I'm like, where the hell did this sneaker come from? Guess what? It's made in China. Uh, and that's why you're seeing Nike shares down over 6% on this news. A lot of pressure, uh, on Nike. Now, they have also, uh, diversified. They're not alone, diversifying, uh, into Vietnam. Well, guess what? Vietnam, they get, uh, hit with the tariff of 46%. So all those retail executives that have told me and been very excited about, well, we, we're moving to Vietnam, we're going to try to save costs. Well, no luck. Uh, you were relying on Vietnam, you're going to get taxed a lot more. You're probably going to have to push through price increases. This is a big negative development for the apparel, uh, sneaker, and handbag industry, guys. Again, this Nike shoe and pretty much all of them are made in China.

All right. Thank you, Sozzi. Appreciate it.