Walmart Officials Say Americans Can’t Afford Toys, Spending Money On Food And Necessities In The Biden Era
Walmart officials are already putting a wet blanket on expectations for Christmas spending as they are cautioning that customers are putting their money to food and necessities and far less to toys and luxury items in this era of rampant Bidenflation.
“The most important thing for people this holiday is to have food on the table for their families,” Isaac Larian, CEO of Bratz doll maker MGA Entertainment, said in an interview.
Per Reuters:
Walmart (WMT.N) on Thursday said U.S. consumers are acting more cautious with spending as the holiday season gets underway, even as the largest U.S. retailer raised its forecast for sales and profit for the year.
The company’s shares fell 7.7% Thursday as executives said higher interest rates and dwindling household savings have made sales “somewhat uneven” over the past two months.
Walmart’s bigger focus on groceries has provided a bulwark against the broad slowdown in discretionary spending with more than half of the company’s merchandise comprising of food and other daily essentials.
Walmart’s Chief Financial Officer John David Rainey told Reuters the company saw shoppers slow purchases in the second half of October, but rebound in early November on items including apparel and home goods that have been out of favor for most of the year.
Toy makers are also worried that the Christmas of 2023 is not going to be so great for them.
Will this presidential election be the most important in American history?
In a separate article, Reuters reported the words of Bratz doll CEO Isaac Larian.
“The most important thing for people this holiday is to have food on the table for their families,” Isaac Larian, CEO of Bratz doll maker MGA Entertainment, said in an interview.
Mattel and Hasbro are also not expecting gangbusters for 2023.
“We have a cautious outlook on the holiday,” CEO Chris Cocks said during Hasbro’s earnings call Thursday. “We do not have a real solid view on where the market will go.”
It is already looking like the U.S. is heading to a dismal Christmas.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston
Cross-posted with iPatriot
Related:
- BIDENFLATION: American Hunger Soaring As Food Becomes Too Expensive For Many Families To Afford
- Bidenflation Pushing More and More Seniors Into Poverty
- Bidenflation Here to Stay: Markets Drop
- Biden Starving America Since 2020: One in Five Americans Forced to Skip Meals Thanks to Bidenflation
- Thanks Joe Biden: One Quarter of Americans Have to Delay Retirement Thanks to Bidenflation
Turn your back on Big Tech oligarchs and join the New Resistance NOW! Facebook, Google, and other members of the Silicon Valley Axis of Evil are now doing everything they can to deliberately silence conservative content online, so please be sure to check out our MeWe page here, check us out at ProAmerica Only and follow us at Parler, SocialCross, Speak Your Mind Here, and Gab. You can also follow us on Truth Social here, Twitter at @co_firing_line, and at the social media site set up by members of Team Trump, GETTR.
Give a middle finger to unaccountable global censors and big tech fascists. Bookmark this site, sign up for our newsletter, and check back often.
While you’re at it, be sure to check out our friends at Whatfinger News, the Internet’s conservative front-page founded by ex-military!
And be sure to check out our friends at Trending Views:
