Luxury retailers lean on affluent customers to dodge inflation bullet
Upbeat profit forecasts from Nordstrom and Ralph Lauren underscore the edge high-end chains have over the wider U.S. retail industry in an inflationary environment, thanks to the deep pockets of their customer base. The retail landscape is feeling the strain of decades-high inflation as a sharp increase in prices of everything from TVs to toothpaste prompts most consumers to curb their spending habit. In the past few weeks, major retail chains including Walmart and Target have reported steep declines in their quarterly profit due to surging costs of freight and labor as well as consumers tra...
Source: aol.com
