Ahead of retail earnings, here's what we know about the consumer so far
Publishing timestamp: 2024-05-07 06:00:02
Summary
U.S. consumers are still spending on experiences, but high prices are squeezing lower-income consumers. Companies like Home Depot and Walmart are set to report first-quarter earnings, with signs of strong spending on travel, concerts, and cruises. However, everyday purchases are being impacted by economic headwinds, leading to price sensitivity among consumers. Companies are being forced to compete for consumers' dollars through promotions and deals, but sticky inflation poses a major hurdle to profitability. Retailers are facing pressure to cut prices to win over consumers, which could impact profit margins in the coming quarters.
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Source: https://www.cnbc.com/2024/05/07/retail-earnings-what-we-know-about-the-consumer-so-far.html