Retailers are clearing out their stock, but a lot of products will likely still be cheaper
After a chaotic year of lopsided inflation and frenetic markdowns, retail chains are trying to get back to something resembling normal. But recent earnings reports show there is still plenty of room for products that aren’t groceries to stay on the discount rack.
But some analysts have said retail inventories are still high overall, and signals from executives were still mixed. Other retailers are still trying to realign their inventories, including at Kohl’s Corp. KSS , where inventories were still up 4%. While that’s a much smaller increase than in prior quarters, executives also said they expected discounts from rivals to “remain competitive.” Inventories were also up at Burlington Stores Inc. BURL , though executives there said the increase was intentional after the off-price chain found itself with too little inventory.
“No one has raised some red flag, like ‘Hey, we’re really concerned, we’re seeing a massive shift in consumer spending or a big slowdown’ or anything like that,” he said. That left retailers with loads of toys, laptops, pants and shirts that nobody wanted — after a burst of demand when pandemic restrictions were still in place. Stocks fell. Store chains had to cut prices on those items to maintain consumer interest and work off bloated inventories.Those effects have fallen disproportionately on low-income shoppers. Barbara Rentler, chief executive at discount retailer Ross Stores Inc.
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