Goldman Finds “Thrift Trends Outperform” Amid Consumer Slowdown
Goldman Finds “Thrift Trends Outperform” Amid Consumer Slowdown
Goldman cited new data in a note to clients on Monday from Placer.ai, a startup that tracks and analyzes foot traffic from mobile devices at brick-and-mortar retailers. The data revealed that consumers continue trading down to ‘off-price’ stores as elevated inflation and high interest rates financially squeeze low- and mid-tier consumers.
The team of Goldman analysts, led by Brooke Roach and Evan Dorschner, told clients they updated their “trackers for August store traffic on a visits per venue basis (sourced via Placer.ai) for department stores, off-price, and select specialty retailers and others within our coverage.”
“On balance, traffic trends sequentially improved in August across every retailer we track following weaker results in July,” the analysts said.
However, they pointed out, “Within this, off-price and thrift trends continue to outperform other consumer discretionary retailers, while department store and specialty retail traffic results have been fairly choppy YTD. Athletic brands (lululemon and Nike Factory Store) have underperformed.”
Thrift is in…
What’s not in is paying full retail at Lululemon Athletica and Nike stores.
And we wonder why.
Savings rate record low; Credit card debt record high pic.twitter.com/ggmRlCvGcW
— zerohedge (@zerohedge) August 30, 2024
The big takeaway from the latest earnings season in corporate America is extreme weakness from low/mid-tier consumers. Last month, we noted that earnings call mentions of a “consumer downturn” soared to the highest levels since the financial crisis. Also, “trading down” mentions have surged in recent years as the middle class implodes under failed Bidenomics. The last time this happened was around GFC.
Welcome to America under Biden-Harris. The inflation storm has transformed a nation of consumers into Walmart and Dollar General shoppers.
Goldman told clients on July 15 that Walmart had the best grocery deals.
Tyler Durden
Mon, 09/09/2024 – 17:40
Secret Service Director Makes Cryptic Reference To Coming ‘Geopolitical Event, Kinetic Conflict’ That Could Endanger US Leaders
Secret Service Director Makes Cryptic Reference To Coming ‘Geopolitical Event, Kinetic Conflict’ That Could Endanger US Leaders
What did the Secret Service chief mean by the below comments?
Ronald Rowe Jr., the Secret Service’s acting director, when giving a briefing Monday from West Palm Beach, described the challenges of protecting Trump and lessons learned going forward. While critics have pointed out the glaring failures that would allow two near-miss assassination attempts on the former president and Republican nominee carried out a mere two months apart, he defended his agency, saying it had put in place the “highest levels of protection” as directed by Biden, which consisted of “counter sniper team elements” and “local tactical assets.”
The Acting Secret Service Director then said: “There could be another geopolitical event that could put the United States into a kinetic conflict or some other– uh- some other issue, that may result in additional responsibilities and protectees of the Secret Service.”
The comment raised eyebrows among pundits who wondered if this means the Secret Service is expecting more such violent attacks on Trump or other high-profile American political leaders. He spoke of the recent assassination attempts as highlighting the need for a ‘paradigm shift’. With conflict now growing even hotter in Gaza, Lebanon, the broader Mideast region, and in Ukraine-Russia… was Director Rowe signaling there’s likely more such assassination attempts to come? Does he have intelligence which suggests so? Or was he just speculating? Watch below:
NEW – Acting U.S. Secret Service Director: “There could be another geopolitical event that could put the United States into a kinetic conflict or some other- uh- some other issue, that may result in additional responsibilities and protectees of the Secret Service.” pic.twitter.com/2KT4VJEqHP
— Disclose.tv (@disclosetv) September 16, 2024
Tyler Durden
Tue, 09/17/2024 – 18:00
Iran bans pagers, walkie-talkies on flights after Lebanon attacks
Iran has banned pagers and walkie-talkies on all flights, local media reported Saturday, weeks after deadly sabotage attacks in Lebanon which were blamed on Israel. “The entry of any electronic communication device, except mobile phones, in flight cabins or … in non-accompanied cargo, has been banned,” ISNA news agency reported, citing the spokesman for Iran’s […]
The post Iran bans pagers, walkie-talkies on flights after Lebanon attacks appeared first on Insider Paper.
JACK POSOBIEC and VISH BURRA: Walz supporters were ‘squaring off’ with Trump supporters ahead of NYC speech
He said that these Walz supporters were “antagonizing and even attacking” the Trump supporters down the street from where the pair was filming.
‘Illiterate’ Harris Mocked as ‘Dumbest Candidate’ After 60 Minutes Interview
Political pundits mercilessly mocked Vice President Kamala Harris’s performance during a 60 Minutes interview Monday after she delivered false, incoherent, and rambling statements.
The post ‘Illiterate’ Harris Mocked as ‘Dumbest Candidate’ After 60 Minutes ‘Train Wreck’ Interview appeared first on Breitbart.
11 trans-identified women launch soccer team in Spain, lose 19-0 in first match against male team
Fenix said that despite their devastating first-game loss, what mattered most is that trans-identified people were able to play on a team together.
Is the Dockworkers Union a Corporate Tool?
The dockworkers strike will increase prices while generally acting “in restraint of trade.” This, we are told, is exactly what big corporations want.
Tropical Storm John Public Advisory
…JOHN NOW A TROPICAL STORM AND MOVING NORTHWESTWARD… …LIFE-THREATENING FLASH FLOODING TO CONTINUE ALONG SOUTHERN MEXICAN COAST FOR THE NEXT FEW DAYS…
As of 3:00 AM CST Tue Sep 24
the center of John was located near 17.3, -100.0
with movement NW at 8 mph.
The minimum central pressure was 990 mb
with maximum sustained winds of about 70 mph.
LIBBY EMMONS: We all had a bully like Kamala Harris
Is there a real Kamala Harris? Or is she like those evil girls in Heathers or the Plastics of Mean Girls?