Businesses including Academy Sports & Outdoors and the Children's Place have transferred claims to tariff refunds they might be due. Faced with prolonged tariff uncertainty, Academy Sports & Outdoors chose to cash in. The sporting goods chain last year sold its rights to tariff refunds, joining companies including the Children's Place and GoPro in trading away potential payouts for immediate cash, to manage debt or for other capital planning.

Some offloaded their claims before the Supreme Court struck down global tariffs this year to escape the limbo of when or if any money would arrive. Others benefited from holding out: Price tags on certain refund claims have more than quadrupled since the ruling.

This strategy reflects broader corporate responses to trade policy volatility, as firms weigh guaranteed liquidity against uncertain future recoveries. The market for such claims has grown more active following the high court's decision, with valuations shifting dramatically.