Jefferies expects a potential slowdown in consumer spending after its latest consumer survey results.
Cost-conscious Americans are reining in their spending and that should give Walmart shares a boost, Jefferies said in a note Friday. The Wall Street firm expects a potential slowdown in consumer spending, especially in nonessential categories, after its latest survey found that consumers plan to spend more on needs versus wants. There is also a strong propensity to move away from brand names.
Treats and food for both cats and dogs are seeing the strongest gains in private label dollar share, the firm found. Walmart's store brands include Sam's Choice and Great Value, the latter of which is the most popular private label brand, according to Numerator. That "best-in-class" assortment of private label will help Walmart continue to deliver strong grocery results, Tarlowe said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jefferies says these casino stocks have less upside as they better reflect Macao's recoveryThe firm downgraded the pair to hold from buy.
Read more »
Tokio Marine taps Goldman, Jefferies to sell $1bln Southeast Asia life insurance unit-sourcesJapanese insurer Tokio Marine Holdings has picked Goldman Sachs and Jefferies to work on the sale of its Southeast Asia life insurance business worth $1 billion, two sources with knowledge of the transaction said.
Read more »
US trade deficit widens to 6-month high, expected to dent economic growthThe U.S. trade deficit widened by the most in eight years in April as imports of goods rebounded while exports of energy products declined, a trend that if sustained, could result in trade being a drag on economic growth in the second quarter.
Read more »
UK wants US trade concessions to boost economy using Inflation Reduction ActU.K. Prime Minister Rishi Sunak is reportedly set to appeal to strong U.S. and U.K. military ties in his meeting with President Biden in hopes of stronger economic ties.
Read more »
Binance.US coins trade at premium amid litigation fears, fiat gateway issuesThe exchange also began suffering fiat gateway issues immediately after an SEC lawsuit was announced.
Read more »
Boeing accused in lawsuit of stealing trade secrets for NASA rocketBoeing was sued on Wednesday by a Colorado company that accused the aerospace giant of stealing trade secrets for NASA's Space Launch System rocket, and then building components with 'critical' safety flaws that could endanger astronauts.
Read more »