All articles tagged with #consumer resilience
Black Friday retail sales in the US increased by 4.1% compared to last year, indicating consumer resilience despite economic challenges, with both in-store and online sales showing growth, though the future outlook remains uncertain.
Target's CFO, Michael Fiddelke, discusses the company's strong fourth quarter earnings, attributing the growth in foot traffic to consumer resilience against inflation and higher interest rates. He teases a potential forthcoming membership program, emphasizing the company's focus on making consumers "fall more in love with Target." Fiddelke also highlights the company's cost-saving efforts and plans for sustained efficiency improvement, as well as the potential for opening more stores and expanding the Target Circle loyalty program.
US retail sales unexpectedly rose in November, signaling consumer resilience and alleviating fears of a recession. The increase in sales, driven by deep discounting and lower gasoline prices, suggests that the economy will continue on a moderate growth path this quarter. The strong labor market and higher consumer spending also cast doubts on expectations for a rate cut by the Federal Reserve. Economists now predict that fourth-quarter consumer spending could grow by as much as a 2.75% annualized rate, contributing to GDP growth. The economy remains supported by a robust labor market, with low layoffs and steady job creation.