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Will Larger US Tax Refunds Spur Consumer Spending or Not?
"I think it will spur some additional discretionary spending on the higher bracket, while many will use it to offset the higher living costs (fuel, insurance, healthcare)."
- Kenneth Leung, BrainTrust panelist
Does Macy’s Own Celebrations?
"Macy's is working hard to improve the customer experience, both in-store and online. The best part: Customers aren’t just going to watch the celebrations, they’ll play a part."
- Georganne Bender, BrainTrust panelist
What's happening in retail?
Here are our picks for top news impacting retailers today:
The continuing conflict in Iran could push food inflation even higher, experts suggest, with fertilizer being in short supply. “Higher energy and input costs risk reigniting global food inflation just as retail food prices had returned to more historical levels in many countries,” the International Food Policy Research Institute wrote (via CNBC).
At least one of the DEI-centric boycotts pertaining to Target is coming to an end, as “Target Fast” has been called off by its organizer. Pastor Jamal Bryant of the New Birth Missionary Baptist Church called for an end to the boycott after Target allegedly privately admitted to a breakdown in trust with the Black community and recommitted itself to funding Black-led community groups and businesses (via Forbes).
Costco is partnering with Sesame and IVI RMA North America to reduce the cost of fertility care and specialist treatments. “By combining transparent pricing with coordinated care, we’re removing the barriers that have historically kept quality fertility treatment out of reach for too many families,” said Richard Stephens, SVP of pharmacy at Costco (via Chain Store Age).
Goldman Sachs set a predicted price of oil, per barrel, of $100 in March — and $85 in April. The ongoing Iran conflict is at the heart of these price predictions, with the status of the conflict being highly unpredictable (via Reuters).
Ulta Beauty delivered a mixed report card for its fourth quarter, beating LSEG projections on revenue while missing on earnings per share. Revenue was pegged at $3.9 billion against $3.8 expected, while EPS came in at $8.01 versus $8.03 anticipated (via CNBC).
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