Big retailers like Walmart, Target and Home Depot report quarterly results in the week ahead.
The Federal Reserve no longer thinks a recession is going to happen, but it still expects an economic “slowdown.” Mastercard Inc. MA last month said consumer spending was “resilient,” while Visa Inc. V said it was “stable.” This week, as analysts try to figure out what description best fits the mixed signals in the economy, we’ll start to get the view from the retail stores where people are doing that spending.
The quarterly financial figures arrive amid low unemployment but continued consumer difficulties, and not all economists are convinced the economy is out of the woods. “While job and wage gains have counterbalanced inflation, the stockpile of savings accumulated during the pandemic is dwindling and is no longer providing as much spending power as previously available.”
The results from Home Depot HD will add more color to the condition of the housing market, currently beset by high prices and mortgage rates that have crimped demand. Walmart WMT and Target TGT will offer an update on the push-and-pull between spending on essentials and non-essentials, with Walmart’s business more concentrated on the former than Target, and Target . Off-price chain Ross Stores ROST has said that higher prices have continued to squeeze its low- and middle-income consumers.
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