Let's bring in the top ranked retail analyst on Wall Street, Matthew Boss of JP Morgan. He just raised his price target in fact on that name. It's good to see you. >> Good to see you, too.>> You were a believer before many, right. Cuz the last time you were here, you had just upgraded the stock to a buy. >> That's right.>> Maybe 10% lower than where the stock is now. What gave you the conviction to do it then. And do you feel like you're getting the payoff now.>> Yeah. So look the the conviction in the call ...

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just said Ray Washurn and he's Red Lobster. He talked about Chili's and talked about how if it's a you get a dollar more at Chili's I guess that's a higher it's not a McDonald's it's thought of as a casual dining or something. So if it's only a dollar difference you might go to Chili.So you recognize that but and move quickly, right. Yeah. And and part of what we also saw was that particularly with middle and lower income consumers they're feeling under a lot of pressure right now.I think there's a lot of, ...

That's exactly what's happening. People are frontloading right now. However, they're looking for other ways to source goods in closer countries and territories, especially in America.But the challenge with that is a lot of the domestic manufacturers themselves are raising their price. And now you're going to be caught on the side of, you know, if you are uh importing it or you're going to be caught domestically. So, no matter what, it's a hit.And who's going to pay for the hit. going to be the consumer beca ...

It takes some time for tariffs to work their way through the chain of distribution to the end consumer. A good example of that would be uh goods being sold at retailers today may have been imported several months ago before tariffs were imposed. So we're beginning to see some effects and we do expect to see more of them over coming months.We do also see price increases in some of the relevant categories like personal computers and audiovisisual equipment and things like that that are attributable to tariff ...