![]() The holiday shopping season over the past couple of years has seen outsize growth brought on by the Covid-19 pandemic, which gave consumers stimulus payments and an opportunity to pad their bank accounts while they were stuck at home and unable to travel or dine out. "Consumers are still spending, but pressures like higher interest rates, the resumption of student loan repayments, increased credit card debt and reduced savings rates have left them with less discretionary income, forcing them to make trade-offs," Target CEO Brian Cornell told analysts on a call last week. If there's one theme that captures the commentary, it's caution, and while some retailers may have been overly conservative with their outlooks, the resounding lack of confidence spells trouble for the holiday quarter and raises questions about the overall health of the economy. Some, such as Best Buy and Nordstrom, cited the uncertain state of the consumer following months of persistent inflation, while others, such as Hanesbrands, said demand is simply drying up for its basic T-shirts, socks and underwear as wholesalers look to keep inventories in check.Įven Dick's Sporting Goods and Abercrombie & Fitch, which both raised their full-year guidance on Tuesday after strong third quarters, managed to underwhelm with their holiday forecasts. The companies, which include everyone from luxury goods giant Tapestry to big boxer BJ's Wholesale Club, cited a host of dynamics that led them to reduce their outlooks or issue forecasts that came in below expectations. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower ![]() Best Debt Consolidation Loans for Bad Credit
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