Good morning. Vince CFO Yuji Okumura, tariffs and his “pleasant surprise”; Trump touts trade agreement with the European Union; plus, Citi rolls out a new premium card.

Tariffs recently delayed the arrival of luxury apparel brand Vince’s new clothing by around three weeks. But the holdup unexpectedly helped the company as shoppers continued buying its spring line—at full price.

Vince typically sells lightweight cardigans, jackets, tops and other pre-fall items starting in June. But this year, the brand, which sources most of its goods from China, suspended shipments from the country in the weeks after President Trump’s so-called reciprocal tariffs were announced in early April, holding up delivery of the new clothing and accessories.

The result: Tank tops, dresses and other spring items remained in Vince stores, online and at wholesale without a markdown while the brand waited for the right moment to bring in the newer outfits and accessories.

Monday

Earnings: Crane, Nucor, Revvity, Universal Health Services, Veralto, Waste Management and Welltower

Tuesday

Earnings: American Tower, AstraZeneca, Boeing, Booking Holdings, BXP, Caesars Entertainment, Carrier Global, Corning, Ecolab, Electronic Arts, Hubbell, Johnson Controls International, Merck, Mondelez International, Norfolk Southern, PayPal Holdings, PPG Industries, Procter & Gamble, Regency Centers, Republic Services, Royal Caribbean Group, Seagate Technology Holdings, Spotify Technology, Stanley Black & Decker, Starbucks, Stellantis, Sysco, Teradyne, UnitedHealth Group, United Parcel Service and Visa

S&P CoreLogic releases its Case-Shiller National Home Price Index for May.

The BLS releases the Job Openings and Labor Turnover Survey.

The Conference Board releases its Consumer Confidence Index for July.

Wednesday

Earnings: Align Technology, Albemarle, Allstate, Altria Group, American Electric Power, American Water Works, Arm Holdings, Automatic Data Processing, AvalonBay Communities, Bunge, Carvana, eBay, Entergy, Equinox, Extra Space Storage, Fair Isaac, FirstEnergy, Ford Motor, Fortive, Garmin, GE HealthCare Technologies, Generac Holdings, GSK, Hershey, HSBC Holdings, Hologic, Host Hotels & Resorts, Humana, IDEX, Illinois Tool Works, Invitation Homes, Kraft Heinz, Lam Research, Meta Platforms, MGM Resorts International, Microsoft, Old Dominion Freight Line, Prudential Financial, Public Storage, Qualcomm, Robinhood Markets, Trane Technologies, Tyler Technologies and Ventas

ADP releases its National Employment Report for July.

The BEA releases its advance estimate of second-quarter gross domestic product growth.

The National Association of Realtors releases its Pending Home Sales Index for June.

The FOMC announces its monetary policy decision.

Thursday

Earnings: AbbVie, AES, Air Products and Chemicals, Amazon.com, Ameren, Ametek, Anheuser-Busch InBev, Apple, Arthur J. Gallagher, Baxter International, Biogen, Bristol Myers Squibb, Builders FirstSource, Camden Property Trust, Cameco, Cigna Group, Clorox, Cloudfare, CMS Energy, Comcast, Coinbase Global, CVS Health, Edison International, Eversource Energy, Exelon, Ferrari, First Solar, Howmet Aerospace, Huntington Ingalls Industries, Ing Groep, Ingersoll Rand, Intercontinental Exchange, International Paper, Kellanova, Kimco Realty, KKR, KLA, Masco, Mastercard, Mettler-Toledo International, MicroStrategy, Monolithic Power Systems, Norwegian Cruise Line Holdings, PG&E, PPL, Quanta Services, ResMed, Roblox, Sanofi, Southern Co., S&P Global, Stryker, Unilever, Vulcan Materials, Xcel Energy and Xylem

The BEA releases the personal consumption expenditures price index for June.

Friday

Earnings: Ares Management, Cboe Global Markets, Chevron, Church & Dwight, Colgate-Palmolive, Dominion Energy, Exxon Mobil, Franklin Resources, Kimberly-Clark, Linde, LyondellBasell Industries, Moderna, Regeneron Pharmaceuticals and T. Rowe Price Group.

The BLS releases the jobs report for July.

The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July.

President Trump said he reached a trade agreement on Sunday with the European Union, avoiding a damaging trade war with the U.S.’s largest trading partner and marking his biggest deal so far in his attempt to remake the global trading system through higher tariffs for U.S. trading partners.

📰 Other headlines

• Exclusive: Americans Aren’t Sold on Trump’s ‘Big, Beautiful’ Tax Law
• Citi Rolls Out a New Premium Card in Fight for Affluent Customers
• Column: Luxury Brands Are Getting Hit by a Vibe Shift
• Welcome to the Grocery Store Where Prices Change 100 Times a Day
• A Tiny Company Is Vouching for Risky Insurers in Hurricane Country
• CEOs Trumpet Smaller Workforces as a Sign of Corporate Health
• Credit-Card Users Are Cautious Now. Rate Cuts Could Open the Floodgates.
• Trump and Bessent Bring New Style to Managing America’s Debt

The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy.

Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.

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