A mixed bag of reports from mega retailers this week reveals where consumers are immune to inflation.
Record levels of price increases this year have hurt many families, but in some cases, a return to pre-pandemic attitudes and activities has overruled cautious spending.Makeup was in high demand last quarter, driving sales for Macy's and Kohl's, the companies reported today.
"[People] see this as a need ... even during inflationary times, they need to replenish their lipstick or makeup or cosmetics and skin care," Jill Timm, Kohl's CFO, told analysts on a call.as travel and events have rebounded.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Greater Cleveland Food Bank's distributions still going strong despite record demand, inflationThe demand for the food bank’s services has only intensified, culminating in an estimated 4,500 families served at Thursday’s distribution alone.
Read more »
Macy’s boosts 2022 guidance as retailers see mixed financial results amid inflationMajor retailers have reported mixed performances for the third quarter this week, illustrating how volatile the exit from a global pandemic has been.
Read more »
Fed must keep raising rates until it is certain inflation has stopped climbing, Kashkari saysThe Federal Reserve needs to keep hiking until it is sure that inflation has stopped climbing, said Minneapolis Fed president Neel Kashkari on Thursday.
Read more »
Fox News co-host rips House GOP for targeting Bidens instead of inflation'...We have evidence...finances, credit cards, and bank accounts of Hunter and Joe Biden were co-mingled, if not shared,' Republican Rep. James Comer said.
Read more »
Gephardt Busts Inflation: Why you should think twice about signing up for store credit cardsIt may sound like a great deal — save 15%, 20%, even 30% on your purchases by signing up for a store's credit card. But there are potential downsides. The biggest downside being high-interest rates.
Read more »
Is American credit card debt, spending rising despite inflation?In apparent disregard of persistent record-high inflation, new reports find that U.S. consumers are showing no signs of backing off their ongoing penchant for robust spending but are, increasingly, covering their high roller habits with credit cards.
Read more »