Some of the nation’s largest retailers are rolling back prices in response to low-income consumers hitting a proverbial brick wall. These consumers have maxed out credit card debt and drained personal savings to dangerously low levels in the era of failed Bidenomics. This also comes after an underwhelming April retail sales report and several notes from Goldman warning about faltering low-income consumers:
- The Largest US Trading Desk Is “Getting Bearish On The US Consumer”
- Goldman Warns Consumers Are Cracking As Stagflation Threats Emerge
- Goldman’s Commentary On Consumer Health Is An Ominous One
On Monday, Target announced, “It will lower everyday regular prices on approximately 5,000 frequently shopped items across its assortment. The retailer has just reduced prices on about 1,500 items, with thousands more price cuts planned to take effect over the course of the summer.”
“Consumers will enjoy savings on everyday items such as milk, meat, bread, soda, fresh fruit and vegetables, snacks, yogurt, peanut butter, coffee, diapers, paper towels, pet food and more,” the retailer said.
One can’t help but ask what influence (if any) the Biden administration had in potentially pressuring Target to lower prices. Food inflation is crushing the working poor, as Democrats are begging the president to lower prices by executive fiat.
It wasn’t just Target rolling back prices. Walmart, America’s largest retailer, told analysts on an earnings call last week that it had begun reducing prices of grocery items.
John Furner, Walmart US’ chief executive, said stores have already issued 7,000 rollbacks. This move is intended to boost food sales in the second half of the year and prevent low-income consumers from trading down to Dollar Generals.
Walmart noted that high-income consumers were trading down to the retailer, which helped drive sales in its grocery business last quarter.
Walmart’s disclosure last week and Target’s announcement this week of price reductions on everyday items, with core cuts in food items, are direct responses to consumer fatigue after three years of high inflation.
A recent FT-Michigan Ross poll showed persistent inflation has soured the mood of 71% of those surveyed. And maybe if the Biden administration’s US Treasury, under Janet Yellen, wasn’t spending like it was in a depression, $1 trillion every 100 days, then perhaps inflation could come back down to Earth.
Joe Feldman, an analyst at Telsey Advisory Group, told the FT that Target unleashed price cuts on popular items to keep pace with Walmart.
Or, in our view, the administration likely nudged the retailers to drop prices or risk being attacked by ‘greedflation’ buzzwords by Biden’s social media team.
Feldman expects the price cuts by Walmart and Target will “likely expand to the rest of retail.”
Consumers are likely to vote with their empty wallets this election season. Research firm NIQ said the effects of inflation have led to consumers spending a third more on consumer packaged goods than they did in 2019.
“I don’t think we’re going to see much in the way of wholesale declines in prices,” Steve Zurek, vice president of pricing and promotion thought leadership at NIQ, said, adding that the outlook for prices was vastly different from two years ago: “It’s not going to be everything going up.”
Should consumers celebrate retailers lowering prices? Possibly, but don’t expect substantial relief anytime soon.
In addition to major retailers, McDonald’s recently considered returning $5 meal deals because low-income people are broke.
Great job, Bidenomics! The working poor has been crushed, set back a generation because of persistent inflation, produced by out-of-control spending by the federal government.
Goldman’s trading desk this morning noted, “The theme of challenging 1Q consumer results has continued.” This followed an underwhelming Target earnings report.
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Throw some crumbs to the peasants so that they don’t revolt. The Usurper is in a race to see if he can fool people into believing things are getting better before the election. What a buffoon. We’re off the rails on this crazy train falling into a gorge and he’s taping paper wings to the train trying to convince people it can fly. Evil and stupid is no way to go through life son.
The Usurper buffoon is doing nothing his handlers are in charge, he is incapable.
Low income retirees (gov. housing) near me are headed for Wally World in 15 min. on a senior bus hooray hooray! Maybe then they will stop X the street @ Target. Wealthier folks shop there too.
Prices can only be cut so much before a company goes broke. Profit has to be made to keep a business alive. Government is the problem.
But you haven’t been paying attention to Herr Biden, it is all corporate greed! (sarc)
It is both! The price reductions prove that the increases were bogus and unjustified. They also expose the underbelly of the biggies as they come to the aid of hidenbiden! The greater revelation will be the gullibility of the worker class if indeed they put our worst enemy (hidenbiden) back in the White House!!!!
Walmart gets subsidized to the tune of billions from uncle sam every year. Target probably does too. They were all paid to go along with the fake pandemic.
Capitalism been very, very good for corporate America. The free market is reeeellllllll…..reeeeee
Parent Company Name: Walmart
Ownership Structure: publicly traded (ticker symbol WMT)
Headquartered in: Arkansas
Major Industry: retailing
Specific Industry: retail-discount stores
SUBSIDY SUMMARYS
State/Local$262,665,188
Parent Company Name: Target
Ownership Structure: publicly traded (ticker symbol TGT)
Headquartered in: Minnesota
Major Industry: retailing
Specific Industry: retail-discount stores
SUBSIDY SUMMARY
State/Local$188,902,296
All grocery stores and drug stores in my area open thru the fake pandemic.
Corporate/ government collusion, you say? Sounds like Fascism to me! Sometimes the dog wags the tail and sometimes the tail wags the dog…but it’s still the same bag of fleas.
Just try to go grocery shopping at Walmart the day of or the day after the EBT cards get refilled …
Things are tough all over. THey can have crumbs like us, or they can nothing…like us. The choice has always been theirs to make. They chose poorly.
Corporate profit margins are at record highs, across the board. We have never had a more greedy corporate America.
This is great newz for struggling democrat families who always wanted those cool Target tuckable-edible faggot underwear for the whole family.
Boys will be girls and girls will be boys, or something like that the old saying goes.
The English always were rotten-toothed fags.
Something.
I rarely shop Target, disgusted w/ them on lgbtq store items.
It seems to me that if you are disgusted with them you would Never shop them. I can honestly say I never do for the reasons you have identified.
They’re also veteran UNfriendly.
Dryer went out so had to go to lowes to get another. Stock is stacked to the ceiling and more young workers wandering around than customers.
I said the same thing! I’m in home depot and lowes almost daily. There are more employees than customers. They schlep around aimlessly trying to appear busy.
Half their stock is probably dented all to shit by now. Be sure to check before accepting delivery!
But in the yard/garden checkout the line is 8-9 long, no second cashier.
While there waiting for them to bring the dryer out I saw this dude with his little groomed beard returning two or three boards. Who in the hell returns a board?
I picked up the dryer and took it home and got it in the house and set it up. The old one is now in my pile of metal junk, which is my retirement fund or maybe a future barricade. Probably has a snake living in it or some feral cats having kittens under it already. The dryer cycle must spin on.
Waste not, want not. One of the lessons passed on from the Greatest generation.
It’s ironic. They spend so much effort to rid us of our individuality and creativity, but those are the qualities that will save us once their plans have failed.
Walmart, Target Unleash Price-Cut Tsunami As Working-Poor Hit Brick-Wall, Working Class Hits Credit Card Limits and Retired hit limited income cap.
Groceries are expensive in democratic cites, but jewelry, TV’s, cell phones, digital cameras, computers and other electronics are all free, as long as you steal under $1000 a day!
cameras, computers and other electronics are all free, as long as you steal under $1000 per crime from a retail establishment
In California.
You can steal over $1000 a day, too – as long as you don’t get caught.
I loathe both those stores and will not patronize either of them. I will admit that wally world is cheap but I can’t stand the place. Once in a very rare while I’ll go to their auto supply section for Rotella synthetic diesel oil and I buy enough for a year or more then. Target is just fucking gay.
Hmm….
You boycotted Walmart and Target in the first sentence.
But by the second sentence? There you are, shopping.
W vs T. I think you’ve got the right take on the situation. There’s ‘necessary evil” and then there’s just ‘oh, hell no!”.
Well, I was the GM of the Esso distributor in Wilkes County 40 years ago (Lowe’s was founded there). Lowe’s CEO enrolled me in its ESOP ($1/yr. job). So, biased to Lowe’s.
And was at Arthur Blank’s 2nd wife’s 1st marriage in Blowing Rock, NC.
lol…as if Biden created money from nothin and unleashed debt money via Fractional Reserve Banking upon a very stupid thus easily manipulated populace. FJB is just along for the ride as is all the rest of the Deep Shekel pwnd pension whores, which is to say the entire Federal and State governments. Fiscal responsibility is not even in the game.
How do you make cheap food and a profit?
Cellulose
Pink slime
Low quality grains.
Artificial sweeteners
Seed oils
Yep. I see natural (artificially made) flavorings in almost everything I pick up to buy. Yesterday, it was unflavored tea in tea bags for brewing. Why in the heck do you need to flavor plain tea?
Ingredients labels in the US led me to conclude they are adding poisons disguised as ingredients. Like you said, there is often no valid reason they are adding certain ingredients.
They’re going to cheat him back into “office,” so what do they have to be worried about?
So…let me understand this…now the usual suspects can shoplift more items before triggering a minimum dollar amount needed for arrest? Brilliant plan designed to help the struggling middle-class, but only if we lived in a civil society.
And once again Demand kicks Supply in the balls. You can sell something for less, or you can sell nothing at whatever price you care to set!
Reality asserts itself once more.
Is this the bread part of Bread and Circuses?
Walmart is also a circus:
.https://www.peopleofwalmart.com/.
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https://www.google.com/search?sca_esv=3ffd33b6c810e9df&sca_upv=1&q=people+of+walmart&uds=ADvngMgoxBifNZSFCILBf-jevBfUa1EmjdZxuS7CXy5Ie9xB-Wr7D5tj-Nxg6gJvpc6-LFywrNzNzuUDrMHxjTAbDE_nii7FzmbnrbkI41ZQXboPKZP9-iXaCOuo8Y1_PjOi4kwDD5UtuqYE7oePylfpYzMYUDtvHDsWQJqA0hkb06s240dy_iXp26LMG6SUIG4D9R_UFDWKhqifPxXVUkm0Ul5h6RTyzWf5GELITEAsEE3oa0VZ7KhVS_BCz1936W323pPt4zrKPgyuCe6pRFrnmeivXZI6FMUBSAd4OqgiHjSARfyf2K6G1Qvu9TyN2LejH_gu7cFHosCNtdNgCrmCj9s6Rz9Vug&udm=2&prmd=isvnmbt&sa=X&ved=2ahUKEwjX8ra51KSGAxVLFlkFHTLJB9UQtKgLegQIHBAB&biw=1163&bih=501&dpr=1.65
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https://www.google.com/search?sca_esv=3ffd33b6c810e9df&sca_upv=1&q=walmartians&uds=ADvngMi9FowZ7UQ3vRulwHsqRpDYty7GCFJ7BF8xX7yfmN3nJQYe_nvyrgpmqK66_Wu6kzOWo1_uEvxlbqfeo9RFOeUwnXZ6f2-DDb5Ue5CRUFoQ9RutEAHekU4C9oyVJper3LDaCrEUfgBtiP-O_hImIKQsjlQk7Uu4JNgIt1c9P-U4B4e1tSRbTakfWvSngG9A_8VLyjPLagyEURFFA_N1HzYfm5c2WY6Y5qutVcYGVHR0OW3dcdMac42Zfsk9zuvd71ELvfaIxo8kI3Vy9qAG5fKXUJEEDqAQdgsFRdzu5N_esJDN2QZDXBX78lS1bNzJFDsXVxOW&udm=2&prmd=isvnmbt&sa=X&ved=2ahUKEwjapLfq1KSGAxXFF1kFHYXeCdYQtKgLegQIFBAB&biw=1163&bih=501&dpr=1.65
The only reason for this must be that all the foof they are cutting prices on are lethally poiosned. Those companies are all jewsish owned and pushe Israeli products.Even the sick transgender S&M baby and kids clothing line was satnic=jewish. Even the fruit and veg are now different and mushy and not what they are supposed to be.
If they starve and then offe food to you, beware of that trap.
They are all con artists.
Your commentary exposes your lack of judgement, communication skills and logic.
Went to Walmart yesterday and the only cashier was a young man wearing a dress and lapel pin than said she/her. They had a senior looking watcher standing there to see what customer reaction would be. Deep voice, long hair, a dress and heavy build. At a distance it would have been easy to mistake him for a female cashier. Mannerisms were definitely feminine.
I would have pointed and burst out laughing. Scorn and ridicule.
You want a deal shop at Aldi.
Best prices anywhere.
Yeah,must be greedy businesses fueling inflation.Could not possibly be government over spending.
Lots of BOGOs in Publix. With soft drinks, “Buy 2 6-paks, get 1 free”.
Was shocked that Grassmilk 1/2 was 80¢ off as well the other day. $3.89 to $3.09.
Bought 5.
Next, Shell & Esso Fuel Rewards. I drive around 3K/month and get 25¢/gal. or an extra $1-2 off when I buy 11-20 gallons.
They’re not lowering prices but simply buying cheaper items to sell for a cheaper price.