Daily Earnings: Retailers weaponize tariff checks | COST, CBRL, GIS | Sep 24

Costco is weaponizing a $184M tariff refund for price cuts while Cracker Barrel and General Mills freeze growth spending defensively.

• Costco's tariff windfall: Costco funneled a $184 million IEEPA tariff refund directly into grocery price cuts, using non-recurring legal cash as a competitive weapon, with another identical refund expected next quarter.
• Cracker Barrel freezes growth: A smaller $15 million tariff refund masked deteriorating retail margins; the company canceled all 2027 store expansion, allocating zero capital to new openings to focus on internal repairs.

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