But rising credit card debt, depleted pandemic-era savings, and higher interest rates are giving investors pause, betting that retail bellwethers like Walmart and Target will have too much merchandise and be forced to discount during the holiday season.
Walmart's decision so far to not hire seasonal holiday workers is a telling sign, Walmart investor Sizemore Capital Management told Reuters.
The National Retail Federation predicts U.S. holiday sales in 2023 to rise at the slowest pace in five years.
But Walmart and Target began offering some holiday discounts as early as October.
"I don't see" food price inflation crowding out sales of more discretionary goods as "as big of an issue this holiday season as last holiday season," D.A.
Persons:
they're, Charles Sizemore, Brian Cornell, " Sizemore, TD Cowen, D.A, Davidson, Rubbermaid, Helen of Troy, Target, Scott, Michael Baker, Siddharth Cavale, Nick Zieminski
Organizations:
Walmart, Target, U.S, Capital Management, Reuters, National Retail Federation, Newell Brands, Hydro, Thomson
Locations:
New York