Retail industry shows warnings of 'cash-strapped' US consumers
Published On Aug 31, 2024, 8:58 AM
Recent reports from several retailers show a mixed outlook for consumer spending in the U.S., indicating that consumers are feeling increasingly cash-strapped. While Walmart reports stable sales, other retailers like Dollar General and Ulta Beauty are warning of a slowdown in their markets due to cautious spending behavior among customers. Dollar General's stock fell significantly after it cut its growth outlook, attributing declines to its core consumers' financial strain. Analysts suggest that while retail sales data appear positive, underlying metrics show that actual consumer spending growth may not keep pace with inflation, sparking concerns about overall economic health and consumer behavior.