WMT - Retail Trends Unwrapped: Analyst Unveils Surprising Shifts In Consumer Spending As 2023 Looms | Benzinga
KeyBanc Capital Markets analysts presented proprietary credit/debit card spending trends across Consumer/Retail and Internet Retail sectors.
Consumer/Retail: Analyst Bradley Thomas said this week’s data through December 24th shows indexed spending for the 'All Retail' category increasing 18.4% y/y.
For the first three weeks of December (excluding the most recent week), average indexed spending rose 0.4% y/y, slightly decelerating vs. 1.3% increase for November.
Excluding the most recent week, Broadlines/Hardlines indexed spend average increase was 8.8% for the first three weeks of December vs. 4.6% in November, writes the analyst.
The analyst writes that over this important weekend, outperformers posted a strong acceleration, which includes Dollar General Corp (NYSE: DG), Dollar Tree Inc (NASDAQ: DLTR), Five Below Inc (NASDAQ: FIVE), Ollie's Bargain Outlet Holdings Inc (NASDAQ: OLLI), and Target Corp (NYSE: TGT).
Best ...