, some of America's biggest chains have been seeing customers spend less and less as they worry about inflation and the state of the economy. And yet another major company just revealed that its sales have been struggling as wary consumers manage their budgets.this week that the company has now seen seven consecutive quarters of declining sales for discretionary items like clothing and toys. This decline is recorded in both dollars spent and the number of items sold.
"But even in food and beverage categories, over the last few quarters, the units, the number of items they're buying, has been declining. So they're even tightening up their spending in those categories," Cornell said.The slowdown in spending is a major turnaround from the earlier days of the COVID-19 pandemic, when consumers stuck at home were spending to keep themselves and their families entertained.
Then last year, the company faced the opposite problem when it ordered too much of the wrong kinds of merchandise,haven't been the only sign of trouble for the retailer lately. In August, the company lowered its expectations for its full-year sales and profits.