Even off-price retailer TJX is being impacted by inflation
Despite offering deep discounts, off-price retailers like TJX aren’t immune to the slowdown in consumer spending. During the second quarter of fiscal year 2023, TJX saw comp store sales drop by 5%. The company — which operates off-price retailers TJ Maxx, Marshalls and HomeGoods — had a drop in categories such as home decor and,…
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Target profit crumbles as inflation-weary consumers shun discretionary spending
Target Corp (TGT.N) reported a bigger-than-expected 90% fall in quarterly earnings on Wednesday and missed estimates for comparable sales as it struggled to lure inflation-hit shoppers with steep discounts on apparel, electronics and home goods. A host of U.S. retailers have issued profit warnings in recent weeks as consumers squeezed by higher prices for everything…
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Clothing subscriptions like Stitch Fix were once hot – but now might be the victims of ‘box fatigue’
After earning a master’s degree a decade ago, David Hill wanted to amp up his personal style and signed up for the Trunk Club, which promised to mail him boxes of clothing tailored to his tastes as often as he liked. Hill would visit the company’s Chicago showroom to meet with a stylist and pick…
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Airbnb could have a key advantage during the next recession
Inflation is starting to cool, according to data released Wednesday. But Minneapolis Fed President Neel Kashkari cautioned that day that a recession could still occur in the “near future,” as Reuters reported. So, what companies are best prepared to weather a possible downturn?
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The inflationary 2020s mean fast food just isn’t cheap anymore
The all-American genre of fast food has historically been an inflation killer. Industrialization in the restaurant industry has lowered prices for consumers year after year ever since the first White Castle opened in 1921, signaling the beginning of the industry, and definitely since McDonald’s debuted in the early 1940s.
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Fitch flags Bed Bath & Beyond as higher default risk
Bed Bath & Beyond moved to the top tier of Fitch’s “top market concern bonds” watch list for potential default following the retailer’s recent disastrous financial results, Eric Rosenthal, the rating agency’s senior director of leveraged finance, tells Axios. Why it matters: Bed Bath & Beyond, as one of the remaining category killers in the…
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