Walmart's 'Time Well Spent' Format Pressures Rivals
On MORNINGS with MARIA I discussed Walmart's experiential "Time Well Spent" store format which will add up to $10 Billion in same store sales for Walmart, coming at the expense of retailers including JC Penny & some from Belk. It is also a signal to Macy's to digitize its stores, however Kohl's will do well led by its chainwide expansion of Sephora, the #1 beauty brand worldwide.
Maria and I also talked about Bed Bath & Beyond's well-intentioned but unfortunate decision to declutter its stores during supply-chain shortages, which left shoppers frustrated without key destinations brands like Ricola except online, making it tough to get shoppers back into its stores. And we touched on the Nancy Lazar & Stephanie Pomboy economic forecast as I concurred that there will be a rolling retail recession by the end of this year, going into 2023, with consumers pressured on purchasing power because of inflation.