"The consumer is in excellent shape."
Me: checking sales of luxury goods…
– Gucci: -7%
– Yves Saint Laurent: -12%
– Bottega Veneta: -7%
– Other: Balenciaga/Alexander McQueen etc: -15%Probably nothing. pic.twitter.com/dnhRqpGx0G
— Genevieve Roch-Decter, CFA (@GRDecter) October 24, 2023
See also Record-high U.S. consumer confidence in the stock market often signals impending downturns.
"Consumer spending is on the decline for the first time in a decade as inflation pushes prices higher and retailers struggle to continue offering bargains" -Walmart’s former US CEO told CNBC (Oct 10 2023)
Walmart Revenue Growth: pic.twitter.com/EkPpaF6OgN
— Genevieve Roch-Decter, CFA (@GRDecter) October 24, 2023