The holidays will loosen our purse strings, forecasts say
4 months ago

The holidays will loosen our purse strings, forecasts say

Salon  

Buoyed by an economy that has strengthened in recent months, consumers plan to spend more on gifts, food and seasonal items this year, according to recent forecasts. The company said consumers strained by higher prices resulting from several years of inflation continue spending less on discretionary goods like home decor, electronics and clothing — the bulk of Target's sales. “The winter holidays are an important tradition to American families, and their capacity to spend will continue to be supported by a strong job market and wage growth.” The economy grew by 2.8% in the third quarter compared to the same period last year, fueled by a 3.7% increase in consumer spending — the primary driver of economic growth, accounting for over two-thirds of the nation's GDP. This tax ultimately comes out of consumers’ pockets through higher prices.” Following Columbia Sportswear, Walmart is the latest retailer expressing likely price increases, as about one-third of the retailer’s items are subject to tariffs. The loss in average disposable income from these price increases would be the equivalent of $1,900 to $7,600 per household If implemented, tariffs could reduce American consumers' spending power by $46 billion to $78 billion annually, according to NRF estimates.

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History of this topic

Americans increased spending tepidly last month as anxiety over the economy takes hold
1 week, 4 days ago

Americans increased spending tepidly last month as anxiety over the economy takes hold

Associated Press  

WASHINGTON — U.S. shoppers stepped up their spending just a bit in February after a sharp pullback the previous month, signaling that Americans are shopping more cautiously as concerns about the direction of the economy mount. Walmart, the nation’s largest retailer and a bellwether for the retail sector, released a weak outlook last month citing uncertainty around tariffs. Also Monday, …

Hopefully, Walmart will honor its words
2 weeks, 1 day ago

Hopefully, Walmart will honor its words

China Daily  

A customer checks out beverages at a supermarket in Binzhou, Shandong province, in February. Earlier, multiple media outlets reported that Walmart demanded significant price cuts from some Chinese suppliers, allegedly attempting to pass on the burden of the new round of US tariffs on China to Chinese suppliers and consumers. In the face of the US government's unilateral tariffs against …

Walmart caught in US-China trade war, feels the heat after reportedly demanding discounts to cope with tariffs
2 weeks, 2 days ago

Walmart caught in US-China trade war, feels the heat after reportedly demanding discounts to cope with tariffs

CNN  

Hong Kong CNN — Walmart is getting caught in the middle of an escalating trade war between the United States and China. On Wednesday, state broadcaster CCTV’s official social media account, Yuyuantantian, wrote in a post that Chinese authorities had summoned Walmart for a meeting on Tuesday. “Walmart’s demand for Chinese suppliers to bear the full tariff burden is unreasonable …

Walmart rolled through 2024, but uncertainty about consumers and tariffs seep into year ahead
1 month, 1 week ago

Walmart rolled through 2024, but uncertainty about consumers and tariffs seep into year ahead

LA Times  

Walmart’s sales are rising, but new tariffs and slowing consumer spending could pose fresh challenges. During an interview with the Associated Press Thursday, Walmart’s Chief Financial Officer John David Rainey said shoppers remain resilient while cautious, but there is no apparent change in behavior related to tariffs. If Americans are hit by a new wave of price increases, economists say, …

Walmart rolled through 2024, but uncertainty about consumers and tariffs seep into year ahead
1 month, 1 week ago

Walmart rolled through 2024, but uncertainty about consumers and tariffs seep into year ahead

Associated Press  

NEW YORK — Walmart delivered another year of strong sales and profits as its competitive prices became a strong magnet for inflation-weary shoppers. During an interview with The Associated Press Thursday, Walmart’s Chief Financial Officer John David Rainey said shoppers remain resilient while cautious, but there is no apparent change in behavior related to tariffs. If Americans are hit by …

Walmart warns of a slower 2025. That’s a bad sign for America’s economy
1 month, 1 week ago

Walmart warns of a slower 2025. That’s a bad sign for America’s economy

CNN  

New York CNN — During America’s inflation crisis, shoppers have flooded to Walmart for groceries and clothing, looking for good deals on all manner of essentials. But Walmart said Thursday 2025 will be trickier as consumers grow increasingly frustrated with inflation and concerned about President Donald Trump’s tariffs. To be sure, Walmart’s business remains relatively strong and consumers are “resilient,” …

Nation’s largest trade group: holiday sales rose a better-than-expected 4%
2 months, 1 week ago

Nation’s largest trade group: holiday sales rose a better-than-expected 4%

Associated Press  

NEW YORK — Sales for the 2024 holiday shopping season turned out to be robust and better than expected, as easing inflation on merchandise drove shoppers to buy, according to the nation’s largest retail trade group. Holiday sales in November and December rose 4% to $994.1 billion compared with the previous year, according to the National Retail Federation, the largest …

China’s weak consumption drags on economy as Trump tariff threat looms
3 months, 1 week ago

China’s weak consumption drags on economy as Trump tariff threat looms

CNN  

Beijing Reuters — China’s industrial output growth quickened slightly in November, while retail sales disappointed, keeping alive calls for Beijing to ramp up consumer-focused stimulus as policymakers brace for more US trade tariffs under a second Trump administration. “China’s economic policies have been amazingly consistent in promoting manufacturers over consumers despite clear signs of lasting weakness,” said Dan Wang, a …

Holiday shopping in US: Americans expected to spend nearly $1 trillion in Nov-Dec 2024
3 months, 4 weeks ago

Holiday shopping in US: Americans expected to spend nearly $1 trillion in Nov-Dec 2024

Live Mint  

The National Retail Federation has projected that winter holiday spending for November and December will increase by 2.5% to 3.5% over 2023. Strong holiday spending Despite a cautious consumer outlook, NRF President and CEO Matthew Shay emphasized that the economy remains fundamentally strong, providing solid support for spending growth. “The winter holidays are an important tradition to American families, and …

'We’re not immune': Walmart warns price hikes ahead if Trump follows through with plan
4 months ago

'We’re not immune': Walmart warns price hikes ahead if Trump follows through with plan

Raw Story  

Walmart — the world's largest retailer — issued a warning to customers that they may pay more for the same products if President-elect Donald Trump makes good on his promise to impose new tariffs on imports. Walmart's finance chief, John David Rainey, acknowledged that new tariffs would likely be passed on to the people buying goods imported from overseas, Fortune …

Walmart And Lowe's Warn That Trump's Tariffs May Cause Price Hikes
4 months, 1 week ago

Walmart And Lowe's Warn That Trump's Tariffs May Cause Price Hikes

Huff Post  

LOADING ERROR LOADING The vast tariffs President-elect Donald Trump has promised to implement will likely lead to price increases at major American retailers like Walmart and Lowe’s, the companies’ chief financial officers said this week. But there probably will be cases where prices will go up for consumers.” The company confirmed Rainey’s take in a statement given to Reuters: “We’re …

Walmart earnings: Holiday shopping is off to a strong start
4 months, 1 week ago

Walmart earnings: Holiday shopping is off to a strong start

Live Mint  

Walmart said U.S. sales rose during the most recent quarter as shoppers bought more groceries, home goods and toys, a sign that spending is off to a steady start at the start of the holiday shopping season. The results Sales: U.S. comparable sales, those from stores and digital channels in operation for at least 12 months, rose 5.3% for the …

Walmart's promise of low prices proves to be a powerful draw in the third quarter
4 months, 1 week ago

Walmart's promise of low prices proves to be a powerful draw in the third quarter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Walmart ratcheted up sales and …

Walmart heads into official start of holiday season with strong momentum after robust 3Q results
4 months, 1 week ago

Walmart heads into official start of holiday season with strong momentum after robust 3Q results

Associated Press  

NEW YORK — Walmart is heading into the official start of the holiday shopping season with strong tailwinds after ratcheting up better-than-expected fiscal third-quarter sales in many items including toys, home goods and groceries. The robust results, announced Tuesday, underscore how Walmart’s comparatively low prices have become a powerful draw for shoppers seeking to cut spending where they could in …

Walmart says price hikes likely if Trump tariffs take effect
4 months, 1 week ago

Walmart says price hikes likely if Trump tariffs take effect

Salon  

Walmart is the latest company warning of price increases if President-elect Donald Trump follows through on a plan to significantly expand tariffs. But there probably will be cases where prices will go up for consumers.” Rainey said it’s too soon to say which products would be affected, but he told CNBC about two-thirds of the retailer's items are not subject …

As Americans bargain shop, six-figure earners flock to Walmart
4 months, 1 week ago

As Americans bargain shop, six-figure earners flock to Walmart

CNN  

New York CNN — Walmart’s business is surging. Walmart’s US sales at stores open for at least a year grew 5.3% last quarter compared with the year prior, the company said Tuesday, and its profit grew 8.2% last quarter. Walmart said it gained market share last quarter, driven “primarily from upper-income households.” Households making more than $100,000 a year accounted …

Retailers are already preparing for Trump’s tariffs that threaten to upend the economy
4 months, 3 weeks ago

Retailers are already preparing for Trump’s tariffs that threaten to upend the economy

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The adoption of across-the-board tariffs on consumer goods and other non-strategic imports amounts to …

Attention Walmart Shoppers: Donald Trump Wants To Double Your Prices
5 months ago

Attention Walmart Shoppers: Donald Trump Wants To Double Your Prices

Huff Post  

LOADING ERROR LOADING WASHINGTON ― Attention Walmart Shoppers: That $18.99 flannel shirt in stores today could soon cost $36.99. Such would be the hyperinflation caused by Donald Trump’s goal to eliminate the income tax and replace it with tariffs, which, in addition to causing a global recession, would also radically shift the tax burden in this country away from the …

Walmart’s strong first quarter driven by consumers seeking bargains with inflation still an issue
10 months, 1 week ago

Walmart’s strong first quarter driven by consumers seeking bargains with inflation still an issue

Associated Press  

NEW YORK — Walmart Inc. reported another quarter of strong results Thursday as its low prices pull in shoppers scouring for discounts with inflation stubbornly high. Meanwhile, Home Depot, the nation’s largest home improvement retailer, said this week that sales declined for the third consecutive quarter to start 2024 as homeowners and prospective buyers wrestled with higher mortgage rates and …

Walmart’s business surges as shoppers hunt for low prices
10 months, 1 week ago

Walmart’s business surges as shoppers hunt for low prices

CNN  

New York CNN — Businesses from McDonald’s to Home Depot are struggling to attract financially strapped shoppers. Walmart said Thursday that sales at stores open at least a year increased 3.8% during its latest quarter from the same time last year. While low and middle-income shoppers have traditionally formed the core of Walmart’s customer base, Walmart also has grown with …

Walmart rips again in Q4 but as inflation retreats, so does customer spending per trip
1 year, 1 month ago

Walmart rips again in Q4 but as inflation retreats, so does customer spending per trip

Associated Press  

NEW YORK — Walmart on Tuesday reported another quarter of strong results, as its low prices attracted shoppers looking for deals in an economically challenging environment marked by bouts of inflation. Yet inflation is fading, resulting in Walmart customers spending less per trip, leading the company to release a modest earnings forecast. Comparable store sales — those from established stores …

Walmart attracts more shoppers seeking to cut spending in Q3, but muted expectations spook investors
1 year, 4 months ago

Walmart attracts more shoppers seeking to cut spending in Q3, but muted expectations spook investors

Associated Press  

NEW YORK — Walmart extended its streak of strong quarterly gains heading into the holiday season as its low prices attract shoppers looking for deals in a tough economic environment. Americans cut back on spending in October, ending six straight months of gains and pushing retail sales down 0.1%, the U.S. Commerce Department said this week. Sales also slid at …

Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year ago
1 year, 4 months ago

Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year ago

Associated Press  

NEW YORK — The National Retail Federation, the nation’s largest retail trade group, expects shoppers will spend more this year than last year, but their spending pace will slow given all the economic uncertainty. The group forecast Thursday that U.S. holiday sales will rise 3% to 4% for November through December, compared with a 5.4% growth of a year ago. …

Shoppers’ holiday spending is expected to top $957 billion, a record amount
1 year, 4 months ago

Shoppers’ holiday spending is expected to top $957 billion, a record amount

LA Times  

Customers shop at a Nathan & Co. store in Oakland in 2022. This year’s holiday spending is expected to beat last year’s record spending of $929.5 billion. The National Retail Federation, an industry trade group, said holiday spending is forecast to reach record levels this year — up 3% to 4% from last year. Business Despite higher prices, American shoppers …

Walmart shines in rough retail environment, ratchets up outlook after strong first quarter
1 year, 10 months ago

Walmart shines in rough retail environment, ratchets up outlook after strong first quarter

Associated Press  

NEW YORK — Walmart reported strong first-quarter sales results as the nation’s largest retailer’s low-prices continue to draw budget conscious consumers in a challenging economic environment of stubbornly high inflation, particularly in groceries. “We see it in the U.S. and in other markets like Mexico, Canada and Chile.” Other major retailers posted quarterly results this week, and there was a …

Walmart boosts outlook after a strong first quarter and rising online sales
1 year, 10 months ago

Walmart boosts outlook after a strong first quarter and rising online sales

Live Mint  

Walmart reported a strong first quarter and boosted its outlook for the year as the nation's largest retailer continues to draw budget conscious consumers in a challenging economic environment. Home Depot, the nation’s largest home improvement retailer, said Tuesday that sales for the first quarter fell 4.2%, and it expects its first annual revenue decline since 2009. Walmart reported net …

Holiday sales up 7.6% despite the squeeze of inflation
2 years, 3 months ago

Holiday sales up 7.6% despite the squeeze of inflation

LA Times  

Holiday sales rose this year as American spending remained resilient during the critical shopping season despite surging prices on everything from food to rent, according to one measure. Holiday sales rose 7.6%, a slower pace than the 8.5% increase from a year earlier when shoppers began spending the money they had saved during the early part of the pandemic, according …

Walmart takes a cautious approach to holiday hiring
2 years, 6 months ago

Walmart takes a cautious approach to holiday hiring

Associated Press  

NEW YORK — Walmart is taking a cautious approach to the holiday shopping season, announcing it will hire 40,000 U.S. workers for the holidays, a majority of them seasonal workers. The move, announced Wednesday, comes as the nation’s largest retailer and largest private employer said it’s in a stronger staffing position heading into the holidays than last year and is …

Inventory pileup, uneasy shoppers put retailers in jeopardy
2 years, 7 months ago

Inventory pileup, uneasy shoppers put retailers in jeopardy

Live Mint  

From Walmart Inc. to Nordstrom Inc., retailers have a glut of inventory and are discounting items to clear out space for holiday goods. Deloitte LLP is likely to predict a slight sales increase for the holidays, largely reflecting higher prices, said Rod Sides, global head of the consulting firm’s insights practice. “My job is stable and my pay hasn’t changed, …

Walmart cuts profit outlook as shoppers adapt to inflation
2 years, 8 months ago

Walmart cuts profit outlook as shoppers adapt to inflation

Associated Press  

NEW YORK — Walmart Inc. on Monday lowered its profit outlook for the second quarter and the full year, saying rising prices on food and gas are forcing shoppers to cut back on discretionary items, particularly clothing, that carry higher profit margins. Walmart’s move to lower its profit outlook in the middle of the quarter is rare and raised worries …

Retail sales rise 0.9% in April as consumers show resilience
2 years, 10 months ago

Retail sales rise 0.9% in April as consumers show resilience

Associated Press  

WASHINGTON — U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at nearly a 40-year high. “Despite the surge in prices weighing on their purchasing power, the U.S. consumer now appears to be single-handedly keeping the global economy afloat.” The Tuesday report also showed that sales …

Walmart: Profits dragged down by inflation, supply chain woes
2 years, 10 months ago

Walmart: Profits dragged down by inflation, supply chain woes

Al Jazeera  

The big-box retailer cut its full-year earnings forecast, sending shares down more than 8 percent in morning trading. Walmart reported stronger sales for its fiscal first quarter, but its profit took a beating as the nation’s largest retailer grappled with surging inflation on food and fuel and higher costs from a snarled global supply chain. Meanwhile, Home Depot, the nation’s …

Strong sales, profit for Walmart on cusp of holiday season
3 years, 4 months ago

Strong sales, profit for Walmart on cusp of holiday season

Associated Press  

NEW YORK — Walmart raised its outlook for the year after another surprisingly strong quarter as the largest retailer in the world flexed its scale to deal with rising costs and a snarled global supply chain. Walmart rerouted goods to less congested ports, even chartered its own vessels, and said Tuesday that its inventory levels actually rose 11.5% from the …

Walmart earnings: America’s largest retailer is navigating the supply chain just fine
3 years, 4 months ago

Walmart earnings: America’s largest retailer is navigating the supply chain just fine

CNN  

New York CNN Business — The supply chain crisis isn’t slowing down Walmart. Walmart on Tuesday said sales at US stores open for at least one year increased 9.2% during the three months ending October 31 compared with the same period a year ago. Walmart’s sales were aided last quarter by government stimulus payments to consumers and higher prices on …

Walmart sales still surging, but a chill may be on the way
4 years, 1 month ago

Walmart sales still surging, but a chill may be on the way

Associated Press  

NEW YORK — Walmart is raising wages for 425,000 of its 1.5 million U.S. workers and is investing $14 billion this year to speed up its distribution network as the nation’s largest retailer navigates vast industry changes that were accelerated by the pandemic. Walmart Inc. lost $2.09 billion, or 74 cents per share, compared with last year’s $4.14 billion profit …

Another booming quarter for Walmart, but sales are slowing
4 years, 4 months ago

Another booming quarter for Walmart, but sales are slowing

Associated Press  

NEW YORK — Walmart turned out another stellar quarter as the world’s largest retailer powers through a pandemic that has felled other national chains. Sales at Walmart stores opened at least a year— a key barometer for a retailer’s health — rose 6.4%. “We think these new customer behaviors will largely persist, and we’re well positioned to serve customers.” McMillon …

Retailers expect a strong holiday shopping season, even as the trade war looms
5 years, 5 months ago

Retailers expect a strong holiday shopping season, even as the trade war looms

CNN  

New York CNN Business — Retailers expect consumers to deliver another strong holiday shopping season, even as the trade war hangs over the economy. “The US economy is continuing to grow and consumer spending is still the primary engine behind that growth,” National Retail Federation CEO Matthew Shay said in a release. The Trump administration has tried to keep consumer …

Latest Trump tariffs could hit consumers with higher prices
5 years, 6 months ago

Latest Trump tariffs could hit consumers with higher prices

Associated Press  

WASHINGTON — President Donald Trump’s latest round of tariffs on Chinese imports is likely to deliver a direct hit on many consumers, who were largely spared from higher prices in his previous rounds of import taxes. For the first time since Trump launched his trade war, American households face price increases because many U.S. companies say they’ll be forced to …

A fresh round of Trump tariffs is about to hit store shelves
5 years, 6 months ago

A fresh round of Trump tariffs is about to hit store shelves

LA Times  

The U.S. flag flies over a container ship unloading its cargo from Asia at the Port of Long Beach. For the first time since Trump launched his trade war, American households face price increases because many U.S. companies say they’ll be forced to pass on to customers the higher prices they’ll pay on Chinese imports. For more than a year, …

Walmart sales up despite warning signs of looming US recession
5 years, 7 months ago

Walmart sales up despite warning signs of looming US recession

CNN  

New York CNN Business — Fresh off Wall Street’s worst day of the year, Walmart calmed investors worried the US economy could fall into a recession. Walmart, a Dow stock and bellwether of consumer spending, said Thursday sales at its jumbo-size US stores increased 2.8% during its most recent quarter compared with the same period a year ago. Walmart’s results …

Walmart says it will raise prices because of tariffs
5 years, 10 months ago

Walmart says it will raise prices because of tariffs

CNN  

New York CNN Business — Walmart, America’s largest retailer, said Thursday it will raise prices on some products as a result of the Trump administration’s tariffs on Chinese goods. However, increased tariffs will lead to increased prices, we believe, for our customers.” Walmart chief financial officer Brett Biggs told reporters on a call after the retailer reported earnings for the …

Walmart holiday quarter sales top estimates, shares jump
6 years, 1 month ago

Walmart holiday quarter sales top estimates, shares jump

Live Mint  

Walmart Inc reported an estimate-beating jump in holiday quarter comparable sales on Tuesday as a strong economy boosted consumer spending and fueled more e-commerce purchases, sending shares of the world's larger retailer up almost 5%. Walmart sales at US stores open at least a year rose 4.2%, excluding fuel, in the fourth quarter ended 31 Jan. The U.S. retailer, which …

Walmart puts Amazon on notice amid Flipkart bad news
6 years, 4 months ago

Walmart puts Amazon on notice amid Flipkart bad news

Live Mint  

Walmart Inc. sailed into the US holiday season with stronger-than-expected sales and a boosted full-year outlook, signalling that the world’s largest retailer can more than hold its own against rival Amazon.com Inc. in the critical holiday weeks ahead. Comparable sales for Walmart stores in the US—the best barometer of the company’s performance—rose 3.4% in the third quarter, beating analysts’ estimates. …

Walmart upbeat on outlook as sales global growth continues
6 years, 4 months ago

Walmart upbeat on outlook as sales global growth continues

Live Mint  

Washington: Global retail giant Walmart is more upbeat about earnings for the year, despite tamping down expectations just a month ago, after posting sales growth across all its business lines and most regions on Thursday. “Each of our segments achieved solid sales growth,” Walmart chief Doug McMillon said. At the same time, the key metric of comparable store sales rose …

‘Anxious’ Walmart holders bore in on results
6 years, 4 months ago

‘Anxious’ Walmart holders bore in on results

Live Mint  

New York: Walmart Inc. investors stomached the surprise resignation of a key international executive this week, showing that they are focused less on day-to-day drama and more on quarterly results due Thursday. The world’s largest retailer said Tuesday that Binny Bansal, co-founder and chief executive officer of its new Indian e-commerce unit Flipkart, had resigned after an investigation into unverified …

Wal-Mart cuts forecast as it spends more on employee healthcare, online biz
10 years, 7 months ago

Wal-Mart cuts forecast as it spends more on employee healthcare, online biz

Firstpost  

Wal-Mart Stores Inc cut its full-year profit forecast, citing higher employee healthcare costs and increased investment in its online business Wal-Mart Stores Inc cut its full-year profit forecast, citing higher employee healthcare costs and increased investment in its online business. The company cut its forecast for earnings from continuing operations for the year ending Jan. 31 to $4.90-$5.15 per share …

Wal-Mart Blames Economy And Payroll Taxes For Slowed Earnings
11 years, 7 months ago

Wal-Mart Blames Economy And Payroll Taxes For Slowed Earnings

NPR  

Wal-Mart Blames Economy And Payroll Taxes For Slowed Earnings Enlarge this image Don Emmert/AFP/Getty Images Don Emmert/AFP/Getty Images Wal-Mart is blaming depressed demand amid a still-shaky economy and a rise in payroll taxes for disappointing earnings in the quarter ending July 31. Bloomberg reports: "Wal-Mart's sales have been hampered this year by a 2 percentage point increase in Social Security …

Walmart CEO's annual pay rockets to $21m
11 years, 11 months ago

Walmart CEO's annual pay rockets to $21m

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The chief executive of Walmart …

Wal-Mart slashes planned increases in investment in attempt to boost profits
18 years, 5 months ago

Wal-Mart slashes planned increases in investment in attempt to boost profits

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Wal-Mart, the world's biggest retailer, …

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