Consumer Spending

Amazon Follows Walmart in Slashing Grocery Prices to Gain Share
Amazon Follows Walmart in Slashing Grocery Prices to Gain Share
May 31, 2024  |  Retail

As Amazon looks to make a dent in Walmart’s share of consumer grocery spending, the eCommerce company is joining the list of retail giants making...

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Costco Mulls Raising Membership Fee, Add Warehouses Amid Rising Sales
Costco Mulls Raising Membership Fee, Add Warehouses Amid Rising Sales
May 30, 2024  |  Retail

Costco is weighing a raise in its membership fee, and plans to add new warehouses and expand partnerships amid rising sales, the retailer said Thursday...

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Dollar General Earnings Show Changes in Paycheck-to-Paycheck Spend
Dollar General Earnings Show Changes in Paycheck-to-Paycheck Spend
May 30, 2024  |  Earnings

As a pulse check on the paycheck-to-paycheck consumer, Dollar General’s most recent Q1 earnings showed that one of the economy’s most closely watched demographic groups...

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Bank of America CEO: Consumers, Businesses Pulling Back on Spending
Bank of America CEO: Consumers, Businesses Pulling Back on Spending
May 30, 2024  |  Economy

Brian Moynihan, CEO of Bank of America, said higher inflation and interest rates have dampened consumer and business spending this year. From hardware to software,...

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Best Buy: Shoppers Are Shifting Their Spending Toward Seasonal Sales
Best Buy: Shoppers Are Shifting Their Spending Toward Seasonal Sales
May 30, 2024  |  Retail

As consumers prove more cautious about their discretionary retail spending, Best Buy is seeing shoppers hold off until sales events to make big purchases. On...

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Gen Z Members Expect Credit Unions to Double Banking Features
Gen Z Members Expect Credit Unions to Double Banking Features
May 30, 2024  |  Credit Unions

According to PYMNTS Intelligence data, 95% of U.S. credit unions (CUs) are now wooing prospective Gen Z members. However, as “How Credit Union Innovation Can...

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Kohl’s Promotes Value to Middle-Income Consumers Buffeted by Inflation
Kohl’s Promotes Value to Middle-Income Consumers Buffeted by Inflation
May 30, 2024  |  Earnings

Kohl’s is looking to boost its sagging sales by promoting value to consumers who have been buffeted by high interest rates and inflation. During the...

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Burlington: Sales Climb 11% as ‘All Income Groups’ Feel Pressure
Burlington: Sales Climb 11% as ‘All Income Groups’ Feel Pressure
May 30, 2024  |  Earnings

Cost-conscious customers from all income levels are helping drive sales at Burlington Stores. The off-price retailer saw its total sales increase by 11% during the...

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Revised GDP Data Show Consumer Spending May Be Losing Momentum
Revised GDP Data Show Consumer Spending May Be Losing Momentum
May 30, 2024  |  Economy

Economic data frequently comes in stages: There’s the initial estimate, and then a revision. And in the newest reading of how U.S. gross domestic product...

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