Not just Macy’s or other department stores have been affected by this. Dollar General acknowledged slowdowns in same-store sales, which were 1.6% in the first quarter of 2023, in its results statement on Thursday. Additionally, the company forecasts that comp sales would increase by 1% to 2% this year rather than the 3% to 3.5% it had first projected. Consumable spending were strong, while seasonal, home, and fashion purchases decreased.
As of Thursday morning, shares of Dollar General were down 20% and shares of Macy’s were down 5%. Customers may just be moving their buying habits away from material goods and toward experiences and services.
Despite a 1% intraday fall in its own shares, Southwest Airlines claimed on Thursday that consumer spending on leisure travel is remained strong.
Customers may just be moving their buying habits away from material goods and toward experiences and services. Despite a 1% intraday fall in its own shares, Southwest Airlines claimed on Thursday that consumer spending on leisure travel is remained strong.
