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Eurodollar University
Kohl's Warns There's NO Holiday Shoppers
Nov 28, 2024
The podcast dives into alarming warnings from retailers about a potential holiday shopping slump due to dwindling consumer spending. Major players like Kohl's and Best Buy face tough times, with revised sales forecasts and mounting economic pressures. It also explores the ongoing struggles of computer giants HP and Dell, grappling with sluggish demand in the PC market. The discussion uncovers how these retail and tech trends reflect broader economic challenges influencing the labor market and consumer behavior.
17:53
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Quick takeaways
- Retailers like Kohl's are experiencing significant sales declines, driven by consumers' reduced spending power amidst stagnant incomes and inflation.
- Budget-conscious shoppers are notably adjusting their holiday spending behaviors, seeking discounts and alternative purchasing options like used items.
Deep dives
Holiday Retail Sales Decline
Several major retailers, including Kohl's, Target, and Best Buy, are experiencing significant declines in holiday sales, with Kohl's reporting a 20% drop in its stock price after revising its sales outlook for 2024. These retailers indicated that consumer foot traffic is not meeting expectations, which has raised concerns about overall spending trends in the upcoming holiday season. For instance, Best Buy's same-store sales decreased by 2.9%, marking one of its worst performance periods in the last decade, highlighting a broader trend of budget-conscious consumers minimizing big-ticket purchases. The downturn in sales underscores a cyclical decline affecting not just retail but also various sectors of the economy as consumers grapple with reduced disposable income and purchasing power.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode