Consumers starting to buckle for first time in a decade, former Walmart U.S. CEO Bill Simon warns
Publishing timestamp: 2023-10-09 21:01:10
Summary
Former Walmart U.S. CEO Bill Simon warns that consumers are starting to buckle under a list of headwinds, including inflation, higher interest rates, federal budget wrangling, polarized politics, student loan repayments, and new global tensions. As Amazon, Walmart, and Target kick off key sales events, Simon notes that bargains are not as deep as before, possibly due to inflation. Shares of Amazon, Walmart, and Target have been under pressure in the past two months. Simon believes Walmart has an advantage over its competitors due to its food business.
Sentiment: NEGATIVE
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