Consumer
The Pandemic-Era Spending Binge Is Hitting a Wall. Retailers Are Concerned
- Shoppers near ‘breaking point,’ stoking worries on economy
- Analyst sees trend dragging on economy for two or three years
This article is for subscribers only.
The US consumer spending binge that took hold during the pandemic is breaking down.
The discretionary spending slump that started last year is delivering a new blow to big US retailers, according to a slew of earnings reports this week. Home Depot Inc. cut its annual profit forecast, citing a customer pullback. Target Corp. and Walmart Inc. warned that recent sales were at their strongest in February but weakened in March and again in April.