Christmas purchasing may provide window into 2023’s prospects
November 28, 2022
Retailers are cutting prices to reduce inventory glut but they are also keeping a close eye on buying behavior throughout the holiday season since it may serve as a window into what they can expect in 2023. “We’re going to spend a lot of time right now focused on executing our plan, getting through the holiday season and then assessing the consumer and the overall retail landscape as we look to 2023,” Brian Cornell, Target CEO, said on the retailer’s earnings call this month.
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.