Counter-tariff impact to be more ‘concentrated,’ affect health, beauty categories: Loblaw CEO

Loblaw Companies president and CEO Per Bank said while fewer grocery products will be affected by new counter-tariffs, customers may see higher prices in health, beauty and cosmetics.

That includes fragrance, makeup, conditioners and hair styling products. Bank said the paper category will also be impacted.

“The challenge is that tariffs on some impacted products could be much higher, reaching up to 50% in certain categories. The impact will also be more concentrated,” Bank said in a LinkedIn post.

Late last month, the retailer said it would reinstate shelf labels identifying U.S.-sourced products affected by counter-tariffs. 

The grocer’s “T” symbol is expected to appear in stores by mid-September, Bank said.

“You won’t see Ts everywhere. We’ll first sell through inventory already in our stores before tariff-related costs are reflected in retail prices,” Bank said. “Given that many of these products sell more slowly, it could take weeks and potentially months before T’s become widespread.”

The chief executive said Loblaw is working closely with suppliers to find alternatives to affected products.

“Only after we’ve done everything we can to mitigate the impact will a product receive a T. And when it does, the price increase will reflect the tariff impact, penny for penny,” he said.