Tariffs have quickly moved from background policy to a key factor in retail stock risk, as a coalition of 25 states challenges the Trump administration’s new 10% to 12.5% global duties at the International Trade Court. For large US retailers that rely on imported goods, even modest changes in tariff rules can influence costs, pricing power, and profit resilience. This article focuses on US import exposed retailers and how this legal fight may affect their prospects. You will see three stocks from the screener that currently appear to be positively exposed to this tariff story.

MINISO Group Holding (MNSO)

Overview: MINISO Group Holding runs a global chain of value focused lifestyle and pop toy stores, selling everyday home, beauty, toy and gifting products under its MINISO and TOP TOY brands, backed by online sales and brand licensing.

Operations: MINISO generates most of its revenue from the MINISO brand in Mainland China at about CN¥15.1b, with CN¥9.0b from MINISO branded overseas stores and CN¥2.7b from TOP TOY.

Market Cap: US$3.9b

MINISO Group Holding sits at the center of the tariff story because it is a global value retailer with heavy Asian sourcing and a growing US footprint. Recent transcripts highlight management confidence in using local sourcing, supplier leverage and tax planning to manage higher import duties. The company is expanding into overseas markets with higher value IP themed products and larger super stores. At the same time, a multi state lawsuit is challenging the new 10% to 12.5% tariffs, which could reshape its cost base. The stock currently trades on a lower P/E than many peers. However, recent margin pressure, an unstable dividend history and governance questions around rising executive pay mean investors may need to weigh potential opportunities against execution and policy risks.

MINISO’s tariff-exposed growth story is getting attention, yet the full picture on its supplier leverage, tax planning and profit resilience is still underappreciated. Get the 4 key rewards and 2 important warning signs and see what could tilt the balance next.

Camping World Holdings (CWH)

Overview: Camping World Holdings is a US retailer focused on recreational vehicles and outdoor gear, selling new and used RVs, accessories, repair services and offering memberships and financial products through its Good Sam ecosystem.

Operations: Camping World generates about US$6.1b in revenue from its RV and Outdoor Retail segment and around US$203.7m from Good Sam Services and Plans, with all reported revenue of roughly US$6.3b coming from the United States.

Market Cap: US$697.0m

Camping World Holdings offers an indirect way to gain exposure to higher import tariffs from a position management characterizes as relatively strong, because they believe rising new RV prices can widen the gap to used units and support margins on pre owned inventory. The company is positioned to benefit from contract manufacturing relationships, scale buying power and a broad service and membership platform that can help offset softer RV traffic and recent earnings pressure. At the same time, high reliance on external borrowing, impaired assets and recent index inclusion keep funding risk and expectations in focus. The key question is whether pricing power and the used RV opportunity can outweigh tariff driven cost pressures and a slower demand backdrop.

Camping World’s tariff exposed used RV story could be more powerful than many investors assume, with the real twist buried in its funding profile and membership economics. Unpack the 2 key rewards and 1 important major warning sign

National Vision Holdings (EYE)

Overview: National Vision Holdings is a US based optical retailer that sells prescription and non prescription eyewear, contact lenses and accessories, and provides eye exams through brands such as America’s Best, Eyeglass World and several military and online banners.

Operations: National Vision generates essentially all its revenue from its Owned & Host segment at about US$2.0b, with a small US$19.8m contribution from Corporate/Other and a US$2m unallocated revenue adjustment.

Market Cap: US$1.8b

National Vision Holdings provides exposure to tariff sensitive imports through a business that is closely linked to everyday healthcare needs. Management commentary indicates the company has been modeling tariff scenarios and working with suppliers to limit the impact of higher duties on its income statement, while also focusing on cost savings and premium eyewear that can support higher price points. At the same time, the company relies heavily on external borrowing and faces competition from online eyewear and a tight optometrist market, which could affect margins if conditions change. For investors evaluating how tariff mitigation, managed care dynamics and store expansion compare with those funding and execution risks, these are key factors to consider.

National Vision’s tariff modeling and supplier work could be setting up a quietly powerful earnings mix. Tap into the analyst forecasts for National Vision Holdings to see how that story could unfold and what one pressure point might change it.

The three stocks covered here are just a starting point, with the full US Import-Exposed Retailers screener uncovering 14 more US import exposed retailers that share similar tariff sensitivities and financial traits, each with its own compelling narrative. Use Simply Wall St to identify, analyze and filter for the exact catalysts and storylines that matter to you so you can focus on the highest conviction opportunities in this theme.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.