A perfect storm of food-stamp cuts and low tax refunds is looming — and discount chains like Dollar General and Big Lots could feel the pain
Both changes are the result of a wind-down of pandemic-era policies, and it's the combination of factors that has retailers worried — they're coming at a time whenNow, the retailers that serve those consumers are preparing for a possible slowdown in spending.
At value chain Big Lots, where nearly 80% of shoppers have a household income under $100,000,"customers are pinched," CEO Bruce Thorn said during a recent investor call. Thorn estimated that the tax refunds, though arriving earlier this year, are about 10% to 15% lower than last year, and when combined with the reduced SNAP benefits, it"further deteriorates lower household income spend." Those shoppers, he said, are"going through a tough time right now." customers are"increasingly economically strained,"
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