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The National Retail Federation, a retail trade group, predicts spending will surpass $135 billion, an increase of more than $24 billion from last year. “The larger the school, the more they are needed,” said Leslie Sparacello, a school superintendent in Austin, Texas, whose former school required clear backpacks. Clear backpacks available on Amazon.com's (AMZN.O) marketplace are priced starting at $9.97, according to its website. A spokesperson said Walmart has recorded an increase in demand for clear backpacks in the last two back-to-school seasons, specifically in Texas, Florida and Mississipi. The company has a separate section for clear backpacks under its backpack category starting at $4.89.
Persons: Mike Blake, jean, , Chip West, Melissa Cohen, Polo Ralph Lauren, Nikki Mcneri, Mcneri, Leslie Sparacello, Calvin McDonald, West, Matthew Bilunas, Josie Kao Organizations: REUTERS, National Retail Federation, MBC Consulting, Walmart, Kailyn Rhone, Thomson Locations: Encinitas , California, U.S, Georgia, jorts, Austin , Texas, Canada, Texas , Florida
Electronics retailer Best Buy recently kicked off a partnership with Atrium Health, part of Advocate Health, one of the country’s largest nonprofit hospital systems, Best Buy Chief Executive Officer Corie Sue Barry announced Thursday on a call with analysts. The partnership combines Atrium's hospital-at-home program with Best Buy’s technological services, she said. Best Buy Chief Financial Officer Matthew Bilunas, however, predicted continued growth of the company's health services would contribute to gross profit rate expansion even as it anticipates cooling demand throughout 2023. "The role of technology within health care is becoming more important than ever, and our strategy is to enable care at home for everyone," Barry said. New sign-ups for Best Buy's health services are expected to help drive a 40 to 70 basis point improvement in gross margins this year, despite lower sales.
How a mild US slump becomes a deep global recessionMore than 80 central banks are staring down the same problem. That followed a hike of the same size by the European Central Bank on September 8. That so many central banks share the Fed's outlook could become a huge problem. "But because they are highly synchronous across countries, they could be mutually compounding in tightening financial conditions and steepening the global growth slowdown." Central banks could be mere months away from a lose-lose scenario.
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