Strategic Resource Group
Inflation & Shortages Hamper Holiday Retail Sales
With institutional ineptitude of unprecedented proportion from local, state, national government & big corporations sending prices skyrocketing and consumer sentiment plummeting to a 10-year low, Burt Flickinger discussed the holiday retail landscape with Dagen McDowell on my weekly "Retail Roundup" on MORNINGS with MARIA. Winners include Wholesale Clubs, led by BJs & category-dominant retailers led by Lowes and Marvin Ellison, Vinny Scalise, Joe McFarlane & Gary White, plus Hal Lawton & his great team at Tractor Supply. In Food, Ingles Supermarkets (IMKTA),led by Bobby Ingles, is trading 6x earnings, hitting record highs. Next year, winners will be off-price players such as TJX, Burlington & Ross because inventory that doesn't sell during the holidays will be discounted later at the deepest price proportions in a decade, however labor strikes will place a big drag on retailers as inflation outpaces wages. Also: Smash & Grab retailer robberies are resulting in reduced customer counts & closed stores, which depress local tax bases & impair funding of local school systems.
Watch now: https://video.foxbusiness.com/v/6283912131001#sp=show-clips