Walmart and Home Depot are getting ready for a consumer slowdown
Publishing timestamp: 2023-02-21 13:05:48
Summary
Walmart and Home Depot reported cautious full-year guidance that disappointed some investors, foreshadowing a tougher year for the retail industry. Walmart and Home Depot are expecting consumers to be more price sensitive due to inflation and rising interest rates, and are expecting to shift more towards lower-margin categories like groceries. Home Depot is expecting customers to opt for cheaper home projects and Walmart is expecting customers to buy more necessities. Other mall players, such as Macy's and Nordstrom, are likely in a tougher position due to their focus on discretionary goods.
Sentiment: MIXED
Keywords: nordstrom inc, business, retail industry, home depot inc, macy's inc, breaking news: business, walmart inc, business news,
Source: https://www.cnbc.com/2023/02/21/walmart-home-depot-cautious-consumer.html