What Walmart, Target, Home Depot and Lowe's tell us about the state of the American consumer.
, which have yet to report results for the first quarter of 2022. These companies that rely on consumers coming inside their stores to splurge on new clothes or shoes could be particularly pressured, as Walmart hinted that shoppers were beginning to pull back on discretionary items to budget more money toward groceries.
On the other hand, he said, some customers have sprung for new patio furniture or eagerly chased the flashy new gaming console, he said. That change showed up with purchases in the fiscal first quarter, he said. Customers bought decor and gifts for Easter and Mother’s Day celebrations. They threw, and attended, larger children’s birthday parties — leading to a jump in toy sales.
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