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Retailers could face cost cuts and slower sales this year - TL;DR CNBC

Retailers could face cost cuts and slower sales this year

Publishing timestamp: 2023-02-19 10:03:17


Summary

Walmart and Home Depot will kick off retail earnings season this week, and industry-watchers expect companies to take a more cautious tone due to inflation. Profit margins could be a silver lining, as some costs come down and companies have more cautious spending plans. Retailers have already gotten a dose of reality, with Macy's warning of lighter sales and Nordstrom and Lululemon reporting lower profit margins. A survey of 300 retail executives found that many anticipate cost-cutting measures in the coming year. However, some factors still work in retailers' favor, such as the tight labor market and increased spending on services.


Sentiment: MIXED

Tickers: BBBYGPSNKEHDSFIXWTGTMWMTAMZNJWNLULU

Keywords: nike inclululemon athletica incbusinesshome depot incbreaking news: businessmacy's incretail industrybusiness newsnordstrom inctarget corpwayfair incwalmart incgap incbed bath & beyond incstitch fix incamazon.com inc

Source: https://www.cnbc.com/2023/02/19/walmart-home-depot-earnings-preview.html


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