Tariffs rarely move in a straight line, and the latest US decision to impose new 10–12.5% duties on 60 trading partners while keeping overall effective rates near 10.8% is a reminder that trade policy can quickly reshape winners and losers. With major European countries seeing relatively lower or slightly reduced tariff rates, some US retail stocks exposed to European imports could see a cost advantage over rivals reliant on Brazil, China, Vietnam or Indonesia. This article walks through three stocks from the US Retail Stocks screener that stand out as potentially well placed under the new rules.

Capri Holdings (CPRI)

Overview: Capri Holdings is a global luxury fashion group behind brands such as Michael Kors and Jimmy Choo, selling handbags, footwear, and accessories through its own stores, wholesale partners, and e commerce across North America, Europe, Asia and other regions.

Operations: Capri generates most of its US$3.47b revenue from Michael Kors at about US$2.87b, with Jimmy Choo contributing around US$600m and sales spread across the United States, EMEA, Asia and the rest of the Americas.

Market Cap: US$1.86b

Capri Holdings sits at an interesting crossroads for investors, combining a deep discount to estimated fair value with meaningful change underway at Michael Kors and Jimmy Choo. The company is pushing hard on product refreshes, store upgrades and data driven marketing. US tariffs on European goods matter because Jimmy Choo sources most of its products from Italy and Capri has been flagging an estimated US$85m tariff hit to cost of goods sold. Add in high debt, insider selling and an aged store base and this is not a straightforward story. For investors who can weigh the trade risk, margin rebuild plans and brand momentum, Capri is a stock that may warrant a closer look.

Capri Holdings looks like a valuation story in motion, not a finished chapter. The real question is how tariffs, debt and brand refresh plans fit together in the 3 key rewards and 3 important warning signs

Crocs (CROX)

Overview: Crocs is a casual footwear company that designs and sells clogs, sandals, sneakers and accessories for men, women and kids under the Crocs and HEYDUDE brands through wholesalers, its own stores and online channels worldwide.

Operations: Crocs generates most of its revenue from the Crocs Brand at about US$3.33b, with the HEYDUDE Brand contributing roughly US$693m.

Market Cap: US$6.77b

Crocs stands out because a large, global fan base for its core clogs and sandals is now supported by direct to consumer sales, social commerce and new product lines. At the same time, the company is wrestling with higher tariffs on Asian sourcing, cost pressures, fashion cycles and a weaker HEYDUDE brand, even as tariff relief on European sourced styles could help margins. For investors, the mix of international growth, efficiency efforts and a stock trading below some fair value estimates raises an obvious question: what are they missing in the detailed Crocs risk and reward story and the way tariffs flow through the 2 key rewards and 2 important warning signs

Crocs appears to be a story in which tariff pressure, fashion cycles and a softer HEYDUDE brand could be masking what really matters in the 2 key rewards and 2 important warning signs for long term investors who identify the underlying dynamics early

Steven Madden (SHOO)

Overview: Steven Madden is a fashion footwear and accessories company that designs and sells everything from dress shoes and boots to handbags and apparel, using brands such as Steve Madden, Kurt Geiger London, Dolce Vita and Betsey Johnson across wholesale, retail stores and e commerce.

Operations: Steven Madden generates most of its revenue from Wholesale Footwear at about US$1.02b and Direct To Consumer at roughly US$939.6m, with Wholesale Accessories/Apparel contributing around US$662.3m and Licensing about US$13.9m.

Market Cap: US$3.18b

Steven Madden sits at the intersection of fashion trends, tariff policy and earnings momentum, which is why it stands out in this retail screener right now. A large direct to consumer business, the Kurt Geiger acquisition and international exposure are helping support revenue and margin mix, while lower tariffs on European sourced dress shoes and luxury footwear could ease cost pressure just as the company is pushing through roughly 10% price increases that consumers have so far been accepting on key styles. Set against this are risks, including margin compression from past tariff shocks, higher funding risk, insider selling and a recent one off loss, so the key consideration is how those positives and pressures net out for long term holders.

Steven Madden’s mix of direct to consumer growth, tariff relief on European footwear and recent price increases still feels underappreciated, and the real twist only shows up when you read the 2 key rewards and 4 important warning signs

The three stocks in this article are just a starting point, and the full US Retail Stocks screener surfaced 18 more US retail companies with European import exposure that carry equally compelling tariff and quality stories. Use Simply Wall St to identify and analyze the exact catalysts, tariff setups and brand narratives that matter most 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.