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☆ Trump tariffs would have 'staggering' impact on consumer prices, says NRF CEO Matt Shay
▼ + stars: | 2024-11-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump tariffs would have 'staggering' impact on consumer prices, says NRF CEO Matt ShayMatthew Shay, National Retail Federation CEO, joins CNBC's 'Money Movers' to discuss how Trump's proposed tariffs could impact inflation, whether tariffs are balanced by lower corporate tax rates and deregulation, and more.

Persons: Matt Shay Matthew Shay Organizations: National Retail Federation

Former President Donald Trump's universal tariff proposals could cause prices to skyrocket on clothing, toys, furniture, household appliances, footwear and travel goods, according to a new report from the National Retail Federation. Trump has said he would impose a 10% or 20% tariff on all imports across the board. In both cases, the NRF found that the impact of Trump's tariffs would be "dramatic" double-digit percentage price spikes in nearly all six retail categories that the trade group examined. The report found that the greatest price spikes could occur for toys: between 36.3% and 55.8%. The report found that the more expensive retail goods would lead to a $46 billion decrease in purchasing power, if Trump imposes both universal tariffs and especially high China rates.

Persons: Donald Trump's, Trump, Mark Zandi Organizations: Abercrombie, Fitch, National Retail Federation, Republican, Bureau of Labor Statistics, CNBC Locations: Manhattan, New York City, China, Mexico, Raleigh , North Carolina

☆ Rise of Middle-Class Shoplifters: Americans Are Stealing From Stores
▼ + stars: | 2024-11-03 | by ( Emily Stewart | ) www.businessinsider.com time to read: +18 min

And before you ask, no, he doesn't feel bad about it, especially when he pilfers from Whole Foods. AdvertisementBut there's also a lot we don't know about retail theft. "No, I don't feel bad about stealing from Jeff Bezos," one 20-something occasional shoplifter in Washington, DC, told me. "It doesn't feel like a world in which I can really get by and build a life very easily anymore, " he said. Advertisement"If most of this is happening in Walgreens and Walmart and places like that, I don't know, is it a problem?"

Persons: Carson's, he's, Carson, He's, shoplifts, Jeff Bezos, there's, it's, Joshua Jacobson, California who's, —, that's, Ernesto Lopez, they've, Jeff Prusan, Joe Schmoes, they're, Keith, shoplifter, That's, Donovan, Donovan's, snagging, she's, Jacobson, Jeff Bezos isn't, David Johnston, we're, hasn't, Emily Stewart Organizations: Walmart, Foods, Amazon, National Association of, Criminal, Atlantic, Depot, Target, Guardian, National Retail Federation, Business Locations: New York, California, Washington ,, Atlanta, Texas, Illinois, Walgreens

☆ 4 retail stocks that look good even if the holiday shopping season is soft
▼ + stars: | 2024-11-02 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

The holiday shopping season is upon us, and our retail stocks are well-positioned to thrive, according to Wall Street research firm Telsey Advisory Group. Telsey Advisory expects value-seeking to be a key theme among shoppers this year, which puts companies with reputations for good deals on solid ground. Overall, the firm expects holiday retail sales up between 3% to 3.5% this year, compared with 4.6% growth last year and a 5.4% increase in 2022. Costco has had a good year so far, and that should continue in the final months of 2024, Telsey Advisory argued. Big picture Telsey Advisory selecting these four Club stocks as preferred names this holiday season reflects their competitive chops within their respective categories.

Persons: Dana Telsey, Milton, we've, Jim Cramer's, Jim Cramer, Jim, Thomas Trutschel Organizations: Telsey Advisory, Costco, TJX Companies, Telsey, Walmart, CNBC, National Retail Federation, Hurricanes, U.S, Amazon Prime, Photothek, Getty

The fee turned up in September 2019, after Trump placed 25% tariffs on steel, and hasn’t gone away since. So far, the tariffs in force under both White Houses have cost Americans $79 billion, the nonpartisan Tax Foundation estimated this summer. The nation’s roughly 33 million small businesses employ nearly half the nation’s workers and generate more than 43% of the gross domestic product, the U.S. Chamber of Commerce estimates. “Whether we like it or not, Asia is the bike manufacturing hub of the world,” said Zagata, who raised prices by between 18% and 22% after the Trump tariffs took hold. San Diego-based entrepreneur Nichole MacDonald said profit margins for her patented, 10-pocket Sash Bag have been thinning in recent years as material and freight costs have jumped, and tariffs aren’t helping.

Persons: Donald Trump, Chris Smith, Trump, hasn’t, Smith, ”, Biden, —, who’ve, Erica York, Julia Demaree Nikhinson, they’re, Jonathan Gold, Gold, “ they’ve, Ryan Zagata, Zagata, he’d, Felix Tintelnot, Trump’s, ” Trump, Brian Hughes, Nichole MacDonald Organizations: Virginia Beer Co, Constellation Brands, Corona, Trump, Foundation, Tax, National Retail Federation, U.S . Chamber, Commerce, Brooklyn Bicycle Co, GOP, Duke University, “ Locations: Williamsburg , Virginia, U.S, China, Modelo, Mexico, New York City, Asia, York, Germany, Diego, India

☆ A millennial who decorates for Christmas early doesn't care some people think it's too soon. It brings her joy and peace.
▼ + stars: | 2024-11-01 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

Bolio — a 27-year-old stay-at-home mom and content creator from Fowler, California, near Fresno — began decorating for Christmas before October was even over. "A lot of the people who complain about it are those who love Halloween, so they don't want to see Christmas decorations," she said. "Retailers used to wait until Halloween had passed to put out the Christmas decor, now we're more likely to see Halloween and Christmas sections side-by-side," Canaves said. AdvertisementHer Christmas aesthetic isn't just red and greenBolio shops for decorations from At Home, HomeGoods, T.J. Maxx, and Michaels. Courtesy of Jessica BolioBolio plans to finish decorating the rest of her house for Christmas soon.

Persons: Jessica Bolio, Bolio, —, Mariah Carey, Fowler, that's, It's, Prosper, it's, Canaves, Michaels, Katherine, Jessica Bolio Bolio, she's Organizations: Service, National Retail Federation, Amazon, Retailers, Facebook, Katherine Center Locations: Fowler , California, Fresno, Bolio's

☆ After six years of tariffs, small-business owners aren't eager for more
▼ + stars: | 2024-11-01 | by ( Alexandra Byrne | ) www.cnbc.com time to read: +9 min

The fee turned up in September 2019, after Trump placed 25% tariffs on steel, and hasn't gone away since. Small-business owners have already been facing tariffs on billions of dollars of goods, most of them from China, implemented by Trump in 2018. So far, the tariffs in force under both White Houses have cost Americans $79 billion, the nonpartisan Tax Foundation estimated this summer. The nation's roughly 33 million small businesses employ nearly half the nation's workers and generate more than 43% of the gross domestic product, the U.S. Chamber of Commerce estimates. "Whether we like it or not, Asia is the bike manufacturing hub of the world," said Zagata, who raised prices by between 18% and 22% after the Trump tariffs took hold.

Persons: Donald Trump, Chris Smith, Trump, hasn't, Smith, Biden, —, who've, Erica York, they're, Jonathan Gold, Gold, they've, Ryan Zagata, Zagata, he'd, Felix Tintelnot, Trump's, Brian Hughes, Nichole MacDonald, MacDonald, Kamala Harris, it's, Sara Hauman, isn't, doesn't Organizations: Albuquerque, Virginia Beer Co, Constellation Brands, Corona, Trump, Foundation, Tax, National Retail Federation, U.S . Chamber, Commerce, Brooklyn Bicycle Co, GOP, Duke University Locations: Albuquerque , New Mexico, Williamsburg , Virginia, U.S, China, Modelo, Mexico, New York City, Asia, York, Germany, Diego, India, America, Portland , Oregon, West Coast

☆ I shopped at Anthropologie and Target for fall decor. One store had a wider selection, but the other had more discounts.
▼ + stars: | 2024-10-31 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +2 min

I stopped by Target and Anthropologie a week before Halloween to shop their fall decor sections. I was surprised to find that both stores were already heavily pushing their winter holiday decor. Target had a bigger selection of fall home decor, but Anthropologie offered bigger discounts. AdvertisementThe end of Halloween doesn't have to mean the end of fall decor. AdvertisementHere's how the fall home decor at Target and Anthropologie compared in terms of style and value.

Persons: —, Anthropologie Organizations: Target, Service, Rocket Homes, National Retail Federation Locations: New York City, United

Despite a difficult quarter, McDonald’s looks resilient in the face of various pressures, analysts say — something the company shares with U.S. consumers overall. “The spotlight is always on McDonald’s because it’s so big” and something of a “bellwether,” she said. That spurred former President Donald Trump to sling fries this month at a Philadelphia-area McDonald’s in a photo op. Like many major brands, McDonald’s raked in big profits as the economy reopened from the pandemic. “The thing that McDonald’s had struggled with, and why I think we’re seeing kind of an inflection point, is a value proposition,” Senatore said.

Persons: McDonald’s, Mickey D’s, Chris Kempczinski, Kempczinski, Gordon Haskett, ” Kempczinski, Ravi Dhar, ”, Sara Senatore, Kamala Harris, Donald Trump, Mickey D’s ’, Senatore, they’d, —, Eric Thayer, ” Senatore, Sam Oches, Oches, ‘, “, Jim Salera, Stephens, Jack Kleinhenz, hasn’t, “ They’re, ” Oches Organizations: U.S, Yale University’s Center, Bank of America, Bloomberg, Getty, Coca, Walmart, Target, Walgreens, JetBlue, Democratic, National Retail, JPMorgan Locations: U.S, Philadelphia, Connecticut, Amazon

☆ Hotels are leaning into their spookier sides to sell ‘rooms with a boo’
▼ + stars: | 2024-10-29 | by ( Blane Bachelor | ) edition.cnn.com time to read: +13 min

Perhaps unsurprisingly, more and more hotels are happy to show off their spookier side as a result. “They ditched the [premise of], ‘Oh, people may be scared,’ and said, ‘Wow, people will come and I can market it, so we’re a haunted hotel,’” said Melchiorri. The inspiration for Stephen King’s novel-turned-film “The Shining,” the 420-room grande dame, whose imposing facade is nearly as dramatic as its Rocky Mountains backdrop, is arguably the world’s most famous haunted hotel. From a messaging and marketing perspective, hotels should share their ghost stories or spooky lore “in a way that they don’t surprise anyone,” Orr said. “My experience is, whether they will admit it or not, most hotels have something that goes bump in the night,” Hunnings said.

Persons: Brian Hunnings, you’re, “, Anthony Melchiorri, ”, Katherine Orr, Elizabeth Harlow, Stephen King's, Helen H, Richardson, ’ earshot, ’, ’ ”, Stephen King’s, Stephen King Suite, –, Steve Azar, Vincent Alban, Hunnings, ” Hunnings, ” Steven Azar, Gifford, Azar, Don’t, ” Azar, Kumar Sriskandan, ” Orr, chambermaid Sallie White, Orr Organizations: CNN, Red Cliffs, CNN Travel, Hotels of America, Hospitality, Hyatt, Marriott, Denver Post, National Retail Federation, Stanley Film Center, Boston Globe, Cliffs, of Film, Western Heritage, “ Cornell Hospitality Quarterly, Alamo Locations: Red, Moab , Utah, Colorado, Estes Park , Colorado, Gifford, Provincetown, Moab, Provincetown , Massachusetts, San Antonio , Texas

☆ Mattel, Hasbro lower guidance ahead of holiday season
▼ + stars: | 2024-10-24 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

Mattel and Hasbro decreased their end-of-year guidance ahead of the key holiday season as toy sales continue to slide during the third quarter. The lowered guidance comes before the important holiday season, where softened results could have major effects for retail companies such as Mattel and Hasbro. Hasbro cut 1,100 workers last December after weak sales in 2023 continued into the holiday season, while Mattel was carried through by the success of the "Barbie" movie. Aside from building block sets, Hasbro expects the toy market to continue to see a trend of softened sales into the holiday season. "Our expectation is the holiday season will probably continue that trend.

Persons: Chris Cocks, Cocks Organizations: Walmart, Mattel, Hasbro, LSEG, National Retail Federation Locations: Secaucus , New Jersey, Florida

☆ 28% of credit card users are still paying off last year's holiday debt. How to get this season’s tab under control
▼ + stars: | 2024-10-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

For some shoppers, the upcoming holiday season may lead to significant credit card debt. "Between buying gifts and booking peak-season travel, the holidays are an expensive time of year," said Sara Rathner, NerdWallet's credit cards expert. "Not only are consumers at risk of getting into credit card debt, but that debt can stick around long after the decorations come down." More from Personal Finance:2 in 5 cardholders have maxed out a credit card or come close2.5% adjustment to Social Security benefits coming in 2025'Fantastic time' to revisit bonds as interest rates fallThe stakes are higher in 2024 with credit card debt already at $1.14 trillion. The average credit card charges more than 20% — near an all-time high.

Persons: Sara Rathner Organizations: Finance, Security, National Retail Federation, Shoppers

☆ Fall has become its own shopping season
▼ + stars: | 2024-10-19 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Fall has become its own sales season for major retailers. AdvertisementFall has arrived in the US — and it's not just a season, but a shopping event. Products include Glazed Pumpkin Spice donut holes and sandwich cookies shaped like jack-o-lanterns, both sold under Target's Favorite Day brand. "We know consumers are eager for their apple and pumpkin spice favorites," Gomez said. However, sales of pumpkin spice products alone totaled about $802 million in the 12 months to July 2023, according to NielsenIQ.

Persons: —, it's, Ronald Hill, Hill, Rick Gomez, Gomez, Joe's, It's, Bill Boltz, Skelly, University's Hill Organizations: Service, National Retail Federation, Retailers, Kogod School of Business, Business, Products, Aldi Locations: Aldi

☆ Elections, hurricane damage and more: Here are four factors that will shape holiday shoppers' purchases
▼ + stars: | 2024-10-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +9 min

Several hard-to-predict factors will influence consumers' spending, as they deck the halls and look for the perfect gifts. That's a more modest increase than the 3.9% year-over-year jump from the 2022 to 2023 holiday season, when spending totaled $955.6 billion. Shoppers expect to spend an average of $1,778 on the holidays this year, 8% more than last holiday season, according to consulting firm Deloitte's survey. SharkNinja CEO Mark Barrocas described the election as the "biggest unknown" that will shape the holiday season. A shorter holiday season

Persons: Michael M, Stephen Rogers, Mario Tama, Rogers, Matt Shay, it's, Lance Allen, Kamala Harris, Donald Trump, Scott Olson, Mark Barrocas, It's, Jen Acerra, Ed Bastian, Evan Gold, Gold, Jack Kleinhenz, Allen, they're Organizations: Herald, Santiago, Getty, Deloitte, National Retail Federation, Shoppers, Deloitte's Consumer Industry Center, Walmart, Catering, Home Depot, Democratic, Republican, Amazon, Delta Air Lines, CNBC, Hurricane Milton, Anadolu, Planalytics, Depot Locations: New York City, Burbank , California, Traverse City , Michigan, Florida, Clearwater, Philadelphia, San Francisco, North Carolina

☆ Port of Los Angeles freight rail delays reach two-year high, with holiday and everyday items piling up
▼ + stars: | 2024-10-18 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

Almost half of the containers bound by freight rail out of the Port of Los Angeles are waiting nine-plus days to get out of the port and onto the rail. In September, the Port of Los Angeles moved a total of 954,706 twenty-foot equivalent units making the month its best September ever. "This is not impacting port operations," said Seroka. "We want to make sure we improve on all port operations. In September, the Port of Long Beach moved 829,499 twenty-foot equivalent units.

Persons: Mario Tama, Gene Seroka, Seroka, Donald Trump, Mario Cordero, Cordero, Matt Shay Organizations: Union Pacific Intermodal, Getty, San, Port, CNBC, U.S, Republican, National Retail Federation, Target, Walmart Locations: Los Angeles , California, West, of Los Angeles, San Pedro, LA, Long, Port of Long Beach, of Long, lading, Port of Los Angeles

☆ Consumers are still spending; there's a lot of firepower there, says NRF CEO Matt Shay
▼ + stars: | 2024-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers are still spending; there's a lot of firepower there, says NRF CEO Matt ShayMatt Shay, National Retail Federation president and CEO, joins 'Power Lunch' to discuss retail sales and the state of the consumer.

Persons: Matt Shay Matt Shay Organizations: Consumers, National Retail Federation

☆ Holiday shopping season: An early look at how retail stores and e-commerce are getting ready for the rush
▼ + stars: | 2024-10-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

The consumer continues to look healthy and the supply chain has regained stability as the holiday shopping season begins. "Across the board, we are seeing volumes very similar to what we've seen in past years, especially last year," said Kelleher. Amazon recently announced its plan to hire 250,000 additional workers for the holiday season, the same seasonal hiring level as last year. "This will achieve some cost efficiencies in getting that volume out because of inflation and cost," he said. "So typically, Cyber Monday is a heavy volume day," Kelleher said.

Persons: Patrick Kelleher, we've, Kelleher, " Kelleher Organizations: DHL Supply, North, CNBC, Freight, National Retail Federation Locations: North America

☆ Holiday shoppers plan to spend more, while taking on debt this season
▼ + stars: | 2024-10-16 | by ( Jessica Dickler | ) www.cnbc.com time to read: 1 min

watch nowAmericans often splurge on gifts during the holidays. This year, holiday spending from Nov. 1 through Dec. 31 is expected to increase to a record total of $979.5 billion to $989 billion, according to the National Retail Federation. Even as credit card debt tops $1.14 trillion, holiday shoppers expect to spend, on average, $1,778, up 8% compared to last year, Deloitte's holiday retail survey found. Meanwhile, 28% of holiday shoppers still haven't paid off the gifts they purchased for their loved ones last year, according to another holiday spending report by NerdWallet. How shoppers pay for holiday giftsThe problem with credit cards and BNPL

Organizations: National Retail Federation, NerdWallet

☆ Halloween shoppers are cutting back — and Spirit Halloween, the spooky season giant, is betting big on Christmas
▼ + stars: | 2024-10-14 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +3 min

Halloween spending is forecast to drop by 5% this year, as inflation hits household spending. AdvertisementHalloween shoppers are tightening their wallets this year, but the season's biggest retailer is eyeing America's next big holiday — Christmas. As consumers are forecast to spend less on Halloween, spooky season retail giant Spirit Halloween is seeking to capture a slice of the much-larger Christmas market. AdvertisementSpirit Halloween CEO Steven Silverstein said on Wednesday that the company, which has over 1,500 Halloween locations, is opening "Spirit Christmas" stores. AdvertisementWhile inflation looms over Americans' Halloween budgets, winter holiday spending is expected to rise by 7% this year, per a PwC report.

Persons: —, Steven Silverstein, Silverstein, Kym Sarkos, Erica Weisgerber, Plimpton, Jerry Murray Organizations: Service, National Retail Federation, The New York Times, New York, Debevoise, Plimpton LLP, Bloomberg, University of, Business Insider Locations: Cheddar, Atlantic City, Albany, Poughkeepsie , New York, The

☆ Ranked: The most popular costumes for adults, pets, and kids this Halloween
▼ + stars: | 2024-10-09 | by ( Priyanka Rajput | ) www.businessinsider.com time to read: +2 min

Spending on costumes could reach nearly $3.8 billion this year, per the National Retail Federation. The National Retail Federation reported that about 72% of people plan on participating in Halloween festivities. AdvertisementAs part of the preparations, the National Retail Federation surveyed 7,945 people about their Halloween shopping plans in early September and ranked the most popular costumes for kids, adults, and pets this year. Meanwhile, adults prefer classic witch costumes for themselves and pumpkin costumes for their pets. These are the most popular Halloween costumes for kids, adults, and pets in 2024, according to the National Retail Federation.

Persons: —, you've, haven't, it's Organizations: National Retail Federation, Service

☆ Spirit Halloween is transforming some of its stores into a Christmas spinoff
▼ + stars: | 2024-10-08 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —When the latest spooky season passes, it won’t mark the end for some Spirit Halloween stores, with the chain planning to convert some locations and keep them open for the holidays. The retailer is opening a total of 10 Spirit Christmas stores, primarily in the US Northeast, filled with the winter holidays-themed items including gifts, decorations and inflatables. The pop-up chain will be a mixture of some converted Spirit Halloween stores and new locations. This year, Spirit Halloween opened a record 1,525 stores in the United States and Canada. The winter holidays are even a bigger business for Spirit Halloween to tap into: Last year, spending across the country grew nearly 4% to a record $964 billion, the NRF said.

Persons: Santa, “, ”, Spencer Organizations: New, New York CNN, CNN, National Retail Federation Locations: New York, , New Jersey, United States, Canada

☆ Spirit Halloween to open 10 new 'Spirit Christmas' stores catering to holiday shoppers
▼ + stars: | 2024-10-08 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

Some Spirit Halloween locations will be busy for longer than usual this year. Spirit Halloween will operate 10 stores through the entire holiday season as "Spirit Christmas," a spokesperson confirmed with CNBC. Not all stores will be converted from existing Spirit Halloween locations. "Spirit Christmas is a new concept for us, and we're hopeful it will resonate with our customers," a spokesperson for Spirit Halloween told CNBC. The first 10 locations will act as a test to see whether customers will stay invested through the holiday season.

Organizations: CNBC, Halloween, National Retail Federation, Deloitte Locations: Mays, N.J

☆ Here are all the winners in the port strike deal
▼ + stars: | 2024-10-05 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +7 min

New York CNN —The deal reached Thursday evening that ended a strike by 50,000 portworkers has a lot of winners and few if any losers. But that wage deal stopped what could have become the most disruptive US strike in decades had it lasted weeks or months. The strike halted the flow of imports and exports across dozens of ports, what could have been a massive blow had the strike continued. Not that this was the deal that the the United States Maritime Alliance, the group that negotiates on behalf of ship lines, terminal operators and ports, wanted. But it was the one they could settle for after the Biden administration made clear it wasn’t going to intervene.

Persons: portworkers, Harold Daggett, Daggett, Sal Mercogliano, “, ” Mercogliano, Mercogliano, Bryan R, Smith, Biden, Joe Biden, Taft, Hartley, Kamala Harris, Pete Buttigieg —, Democrats ’, Julie Su, ”, – Organizations: New, New York CNN, International Longshoremen’s Association, ILA, Campbell University, National Retail Federation, United States Maritime Alliance, Getty, Transportation, Democrats, Labor Locations: New York, West Coast, AFP, New Jersey

☆ Ship queue grows at U.S. ports as dockworker strike enters third day
▼ + stars: | 2024-10-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

One alternative would be to sail to West Coast ports on the other side of the country, likely using the Panama Canal, a journey of thousands of miles that would hike costs and add weeks to delivery times. Bryan R. Smith / AFP - Getty Images fileThe ILA is seeking a big pay raise along with commitments to halt port automation projects it fears will kill jobs. The USMX had offered a 50% pay bump, but the ILA said it was insufficient to address its concerns. The strike affects 36 ports — including New York, Baltimore and Houston — that handle a range of containerized goods. Biden’s administration has repeatedly said it will not use federal powers to halt the strike.

Persons: ”, Everstream’s Jena Santoro, Bryan R, Smith, USMX, ” USMX, “, Joe Biden’s, Morgan Stanley Organizations: International Longshoremen’s Association, Reuters, ILA, United States Maritime Alliance, Getty, Houston, National Retail Federation Locations: U.S, East Coast, Gulf Coast, West Coast, Panama, Maine, Texas, Bayonne , New Jersey, AFP, New York, Baltimore

☆ Panic buying amid U.S. ports strike is creating supermarket supply concerns
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

There is no need for panic buying, and we encourage consumers to shop responsibly. Bill Simon, former CEO of Walmart, stressed that panic buying is serious and can have a cascading effect on domestic products. "Panic buying not only impacts the availability of imported products, but domestic products as well as consumers shift their purchase behavior," warned Simon. Walmart and Target did not immediately respond to requests about any panic buying patterns identified at their stores. John Catsimatidis, owner of the NYC super chain Gristedes, said the panic buying is occurring and showing no signs of slowing down.

Persons: Stew Leonard, Jr, Stew Leonard's, restocked, Bill Simon, Simon, John Catsimatidis Organizations: CNBC, Gulf Coasts, National Grocers Association, —, of Commerce, East, National Retail Federation, Walmart, Target, NYC Locations: Gulf Coast, East Coast, Gulf, United States, U.S, Canada, Mexico, East

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