Williams-Sonoma to spread tariff refunds to vendors, employees
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The kitchenware retailer is funneling $10 million toward the retirement accounts of workers who helped it navigate tariffs while also reimbursing vendors for discounts. As Customs and Border Protection continues to pay out refunds for the IEEPA tariffs the Supreme Court struck down in February, companies across numerous sectors have taken a wide variety of approaches to using the returns. Some companies have focused on using the money to benefit customers. For example, Amazon said it would issue refunds to shoppers in "a limited set of circumstances," while Walmart and BJ's Wholesale Club are investing in price cuts. Elsewhere, companies such as Nintendo have been adamant that tariff refunds are not owed to customers. Meanwhile, other tactics for using tariff refunds have included offsetting increased logistics and sourcing costs, selling refund rights for quick cash, and sharing reimbursement benefits with supplier partners. Through its multi-pronged approach, Williams-Sonoma has joined the camp sharing refunds with vendors, something Alber said was "the right thing to do." "They gave us discounts and when we got the money back, we gave them their money back," the CEO said. "And that is a big deal that I think is going to really just continue to further solidify the special partnership we have with them versus our competitors." But Williams-Sonoma's decision to reward...
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