Retailers brace for tougher times and more frugal customers in 2023
Publishing timestamp: 2023-01-02 13:00:01
Summary
January is a high stakes month for retailers as they close out their holiday quarter. Companies are under pressure to clear out excess inventory and some economists and industry watchers anticipate a recession for the US. Early holiday results have been better than expected, but there are signs that shoppers may be running out of gas. Retailers are offering gift cards to drum up sales and it is their last chance to sell through excess inventory. Economists are closely watching consumer indicators and anticipate a recession to begin in the first quarter of 2023.
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Keywords: target corp, walmart inc, costco wholesale corp, business, business news, retail industry, breaking news: business, urban outfitters inc,
Source: https://www.cnbc.com/2023/01/02/retailers-brace-for-tougher-times-frugal-shoppers-2023.html