2024-02-14 09:35:32 ET
Summary
- Excess savings from the pandemic are decreasing, but positive real wages and low unemployment are supporting robust domestic spending.
- Holiday shopping trends were strong, with significant growth in buy now, pay later activity.
- Bread Financial, a financial services company, has a high earnings growth potential and attractive valuation, with shares trading at a low multiple.
- I outline key price levels to watch on this rebounding, high-risk, stock.
Consumers are still flush with some cash. Excess savings from the pandemic continue to dwindle, but positive real wages and a low unemployment rate have kept domestic spending at robust levels. Despite an early year dip in expected retail sales, holiday shopping trends were generally strong, aided by significant growth in buy now, pay later activity....
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Consumer Spending Remains Strong, Sticking With Bread Financial