{"id":47982,"date":"2023-08-13T19:53:56","date_gmt":"2023-08-13T23:53:56","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/recession-worries-are-fading-when-walmart-and-target-report-well-see-how-shoppers-feel-about-that\/"},"modified":"2023-08-13T19:53:58","modified_gmt":"2023-08-13T23:53:58","slug":"recession-worries-are-fading-when-walmart-and-target-report-well-see-how-shoppers-feel-about-that","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=47982","title":{"rendered":"Recession worries are fading. When Walmart and Target report, we\u2019ll see how shoppers feel about that."},"content":{"rendered":"
\n

The Federal Reserve no longer thinks a recession is going to happen, but it still expects an economic \u201cslowdown.\u201d Mastercard Inc.
\n MA,
\n -0.54%<\/bg-quote>
\n last month said consumer spending was \u201cresilient,\u201d while Visa Inc.
\n V,
\n -0.05%<\/bg-quote>
\n said it was \u201cstable.\u201d This week, as analysts try to figure out what description best fits the mixed signals in the economy, we\u2019ll start to get the view from the retail stores where people are doing that spending.<\/p>\n

It begins with home-improvement chain Home Depot Inc., which reports quarterly results on Tuesday. Target Corp. and TJX Cos. report Wednesday. Walmart Inc. and Ross Stores Inc. round out the week on Thursday. <\/p>\n

\n

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. <\/p>\n

Inflation, though easing in some spots, is still hurting consumers. Savings are running thin. Analysts expect a big back-to-school season, with potential implications for the year-end holidays. But they\u2019re worried about the coming return of student-loan payments \u2014 and the degree of large retailers\u2019 exposure. Retailers have tried to realign their inventories so they\u2019re stocked up with what people want. And they\u2019ve fattened or propped up sales via price increases for essentials. But analysts have said they can\u2019t rely on that tactic forever. <\/p>\n

\u201cConsumers are still spending but are under financial pressure and have been adjusting how much they buy while also shifting from goods to services,\u201d Jack Kleinhenz, chief economist at the National Retail Federation, an industry group, said in a statement on Thursday. <\/p>\n

\u201cWhile 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.\u201d<\/p>\n

Still, the NRF said last month said it expected \u201crecord levels\u201d of spending on back-to-school or back-to-college supplies. Consumers, the firm said, were looking to get an early start on the season. D.A. Davidson analyst Michael Baker also said that retail stocks could get a lift as the Fed backs off on raising interest rates. <\/p>\n

\u201cWe remain constructive on the group with our overall view being that retail will outperform as the end of the rate tightening cycle comes into focus,\u201d he said in a note on Wednesday.<\/p>\n

Don\u2019t miss:<\/strong> Sales-tax holidays: Here\u2019s your state-by-state guide to tax-free back-to-school shopping through the end of summer<\/p>\n

Also see:<\/strong> Want companies to lower their prices? Show them that you mean it.<\/p>\n

The results from Home Depot
\n HD,
\n +0.52%<\/bg-quote>
\n will add more color to the condition of the housing market, currently beset by high prices and mortgage rates that have crimped demand. Walmart
\n WMT,
\n +0.59%<\/bg-quote>
\n and Target
\n TGT,
\n +0.10%<\/bg-quote>
\n will offer an update on the push-and-pull between spending on essentials and non-essentials, with Walmart\u2019s business more concentrated on the former than Target\u2019s, and Target . Off-price chain Ross Stores
\n ROST,
\n -0.43%<\/bg-quote>
\n has said that higher prices have continued to squeeze its low- and middle-income consumers. <\/p>\n

This week in earnings<\/h2>\n

Along with the big-box retailers, tractor maker Deere & Co.
\n DE,
\n +0.12%<\/bg-quote>
\n also reports, after calling out \u201chealthy demand\u201d for farm and construction gear. Applied Materials Inc.
\n AMAT,
\n -4.00%<\/bg-quote>,<\/span>
\n whose equipment helps microchip makers make microchips, also reports. So does cybersecurity firm Palo Alto Networks
\n PANW,
\n +1.82%<\/bg-quote>,<\/span>
\n as analysts start to dissect the tech world\u2019s AI ambitions. <\/p>\n

The call to put on your calendar<\/h2>\n

Fashion-industry consolidation:<\/strong> Tapestry Inc.
\n TPR,
\n +1.30%<\/bg-quote>
\n \u2014 the parent of fashion brands Coach and Kate Spade \u2014 will report results on Thursday, after agreeing to acquire a few more of them. The company last week said it agreed to acquire Capri Holdings
\n CPRI,
\n -1.41%<\/bg-quote>,<\/span>
\n a luxury-fashion group made up of Versace,\u00a0Jimmy Choo and\u00a0Michael Kors. The agreement was made as inflation threatens consumer appetites for luxury accessories. However, some analysts have said that customers were less likely to seek out cheaper alternatives for items like handbags than they were for more run-of-the-mill items like jeans. <\/p>\n

The number to watch<\/h2>\n

Cisco results:<\/strong> Concerns about falling product orders and weaker tech demand hung over Cisco Systems Inc.\u2019s last round of earnings. Ahead of the networking-gear giant\u2019s fourth-quarter results, set for Wednesday, Synovus analyst Dan Morgan said he was focused on the prospect of a rebound, and whether Cisco\u2019s transition into a more multifaceted company is still intact. \u201cAll eyes will be on how\u00a0Cisco\u00a0is\u00a0progressing in transitioning from an old router\/switch leader to a more diverse revenue mix in Security (Secure\/Agile Networks), Internet (Internet for the Future), Hybrid Work, End-to-End Security, and Services,\u201d Morgan said. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Federal Reserve no longer thinks a recession is going to happen, but it still expects an economic \u201cslowdown.\u201d Mastercard Inc. MA, -0.54% last month said consumer spending was \u201cresilient,\u201d while Visa Inc. V, -0.05% said it was \u201cstable.\u201d This week, as analysts try to figure out what description best fits the mixed signals in […]<\/p>\n","protected":false},"author":1,"featured_media":47983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-47982","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nRecession worries are fading. 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