Morgan Stanley: Retailers say stockpiling helped alleviate tariff impact in the first quarter.

Morgan Stanley research report stated that companies such as Amazon, Big 5 Sporting Goods, Skechers, and Fastenal have all placed advance orders and stocked up inventory in an attempt to mitigate the impact of tariffs. Amazon executives pointed out in the company's recent earnings call that they have so far been able to avoid widespread price increases, partly due to the company's and third-party sellers' advance purchases. Big 5 Sporting Goods and Skechers both mentioned that stocking up inventory as a short-term solution to deal with tariffs has significantly reduced the impact of tariffs in the first quarter. Meanwhile, Fastenal executives anticipate that as the company deals with new tariffs, their inventory levels will remain high throughout the year.