Welcome to 2026: Several retail developments broke in the final days of 2025. Here’s what you may have missed and why they’re worth paying attention to.
Delayed tariffs
The news: The Trump administration delayed higher tariffs on upholstered furniture, kitchen cabinets, and vanities for a year, holding at 25% as trade talks continue. The planned 30%-50% tariffs on furniture and kitchen cabinets are now set to take effect in 2027. The US also reduced proposed tariffs on 13 Italian pasta makers.
Why it matters: The planned delay and reduction in tariffs will aid consumers who have been strained by a deepening affordability crisis.
A Lululemon proxy fight
The news: Lululemon founder and shareholder Chip Wilson initiated a proxy fight by nominating three candidates for the company’s board after the apparel maker’s CEO said he would resign. The board named CFO Meghan Frank and Chief Commercial Officer André Maestrini as interim co-CEOs while it searches for a permanent chief. Wilson said the next lululemon CEO needs to be selected by a board “with stronger product experience.”
Why it matters: Large consumer-products companies are being targeted by activist investors to force leadership and strategic changes. PepsiCo reached an agreement with Elliot Investment Management to cut prices and trim its SKU count last year, and the Financial Times reported in late December that activist investor Toms Capital Investment Management bought shares in Target.
JCPenney stores in limbo
The news: Many JCPenney stores face uncertainty after the failure of a $947 million deal that would have sold nearly 120 outlets to private equity firm Onyx Partners, per regulatory filings. The stores are owned by a trust created during the chain’s 2020 bankruptcy to liquidate real estate under strict deadlines.
Why it matters: The collapse leaves nearly 120 JCPenney locations in limbo, sparking concern among employees, customers, and communities that support the stores. It also shows the ongoing troubles faced by legacy retailers trying to restructure their assets amid new competitive pressures.
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