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.
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Keywords: nike inc, lululemon athletica inc, business, home depot inc, breaking news: business, macy's inc, retail industry, business news, nordstrom inc, target corp, wayfair inc, walmart inc, gap inc, bed bath & beyond inc, stitch fix inc, amazon.com inc,
Source: https://www.cnbc.com/2023/02/19/walmart-home-depot-earnings-preview.html