These two charts show Walmart and Target's front-loading strategy
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Hot toys such as Squishmallow building sets, Hasbro's Spider-Man action figures and Mattel's Barbie were included in container manifests.
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investment
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August 18, 2025
11:25 AM
CNBC
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In this articleMATHASWMTTGT your favorite stocksCREATE FREE ACCOUNTAn employee adjusts a price label for Barbie dolls displayed for sale ahead of Black Friday at a Walmart Supercenter in Burbank, California.Mario Tama | Getty ImagesWith the threat of tariffs looming, retailers such as Walmart and Target raced to ship items into the U.S., container data from ImportGenius shows, illuminating various front-loading strategies.Information from the bills of lading, the digital receipts of shipping containers, shows a wide array of items ranging from Halloween costumes and decor, holiday decorations, air fryers, Barbies, Squishmallows and Mario Kart characters were pulled forward ahead of the tariffs and in the window when tariffs were paused."The front-loading patterns for the companies over the summer of 2024, ahead of the East Coast Longshoremen strike fears; the first few months of 2025, ahead of Liberation Day tariffs; and the unpausing of Chinese shipments in June, which arrived in July; are visible in the charts," William George, director of re for ImportGenius, told CNBC.The results are based on data collected by ImportGenius' platform, which is populated with U.S. customs data and doesn't represent the companies' entire import volume because third-party logistics viders also move ducts to their stores, according to ImportGenius
Walmart and Target declined to on their trade strategy, citing a quiet period ahead of their upcoming earnings reports.Hot toys such as Squishmallow building sets, "Moana 2" dolls and playsets, Hasbro's Marvel Spider-Man VenomVersus Liquid Shifter action figures, and Mattel's Barbie medical doctor doll were included in container manifests.Data from Sea-Intelligence suggests the two discount retailers weren't the only ones scrambling
The total laden imports through the top 10 U.S. ports during the first four months of 2025 rose 15.6% year over year, the supply chain data vider said.This front-loading of containers was almost double the growth of the pre-pandemic period (2015-2019) high of 8% growth, and a pre-pandemic average of 4.8% year over year growth, Sea-Intelligence said."This boom was quickly ed by a bust, as inbound volumes contracted sharply by -4.1% Y/Y in May and by -8.2% Y/Y in June (due to Liberation Day tariffs and tariff changes)," said Alan Murphy, CEO of Sea-Intelligence.Target got an early startDiving into the timing of the front-loading, Target started earlier than Walmart, pulling forward freight in January ahead of Lunar New Year, with an additional front-loading of containers before Liberation Day at slightly lower levels, according to the data.The timing of bringing in freight is critical to manage costs and has been a focus on earnings calls.In November of 2024, Target announced its biggest earnings miss in two years and its stock plunged
The company blamed higher freight costs it absorbed as a result of preemptive action to move more duct into the U.S. ahead of October.Based on Xeneta data, the average ocean freight spot rates during the month of January — when Target pulled forward its majority of freight — were between $6,364 and $6,881 per 40-foot container equivalent (FEU) for the Far East to U.S
Rates for the Far East to the U.S
West Coast ranged between $4,965 and $5,834 per FEU."During the first half of 2025, and in particular around the erratic tariff decisions of the Trump administration in April and May, shippers had to deploy stop-n-go tactics," said Peter Sand, chief shipping analyst at Xeneta. "Doing it earlier did not bring lower freight cost around — but shippers doing that enjoyed greater predictability and a more even flow of goods."Walmart had March peakWalmart's peak front-loading was at its height in March, ed by February, the data suggests.Ocean freight spot rates during this time frame, according to Xeneta, were lower
Shipping from the Far East to U.S
East Coast was priced between $3,616 and $6,266 per FEU
Rates for the Far East to U.S
West Coast ranged between $2,563 and $4,903 per FEU.After the Trump administration announced on May 12 that Chinese tariffs were reduced to 30% from 145%, U.S. importers resumed some orders that were on pause
Both Target and Walmart unpaused shipments
Based on travel time, the containers arrived into the U.S. and were cessed through customs in June and July.Sand said the rapid deployment of freight orders stoked ocean freight rates."Depending on the individual company's ability to do so — and their supply chain flexibility — some had to pay up during May-June freight rate hikes, while others had already done so back in January-February and March," said Sand. "Going forward, the smarter shippers with access to the right data can increasingly enjoy more resilient and predictable supply chain flows."Ocean freight spot rates during this time frame, according to Xeneta, increased, with Far East to U.S
East Coast rate rising to between $3,717 and $6,631 per FEU, and rates for the Far East to U.S
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