In 2025, Steven Silverstein, CEO of parent company Spencer Spirit Holdings, described the tariffs imposed by Donald Trump as a threat worse than the Covid-19 pandemic for the seasonal retailer, whose products are 75% to 80% designed and sourced primarily in Asia. When the US tariff on Chinese imports reached 145%, Spirit stopped shipments, suspended capital spending and cut costs before restarting deliveries six weeks later, after an agreement brought the rate down to 30%. To make up for the delay, the company hired more workers and opened its stores two to two and a half weeks late without raising prices to offset the tariffs. Silverstein nevertheless said Spirit achieved its best year ever, with business more than doubling since 2019. Since 2006, the Spirit of Children charitable program has also raised more than $164 million for hospitalized children, with a $20 million target for its 20th anniversary.
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