US tariff refunds mask retail's true winners and losers

Tariff refunds lifted margins, with Kohl’s receiving about $150 million and Abercrombie & Fitch recognising nearly $100 million tied to IEEPA tariffs.
Abercrombie posted Q2 net sales of $1.27 billion, up 5 per cent, as stronger demand, lower promotions and improved conversion supported AURs.
Kohl’s revenue was $3.32 billion as comparable sales fell 0.9 per cent for an 18th straight fall.