Shares of several retail and apparel companies are trading lower after January CPI data showed a greater-than-expected rise in inflation.
Portfolio Pulse from Benzinga Newsdesk
Shares of retail and apparel companies including BBY, BIRK, CRMT, CVNA, EXPR, FND, HD, KMX, PLCE, RH, SNBR, TBLT, VFC, VSCO, and W are trading lower following January CPI data indicating a higher-than-expected inflation rise.
February 13, 2024 | 8:50 pm
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NEGATIVE IMPACT
Best Buy's stock trades lower due to inflation concerns impacting consumer spending.
Higher inflation typically reduces consumer spending power, potentially affecting Best Buy's sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
America's Car-Mart shares decline amid fears that inflation will dampen auto sales.
Inflation can lead to higher vehicle costs and lower consumer purchasing power, impacting CRMT's sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Home Depot's shares fall as inflation could reduce discretionary spending on home improvement.
Increased inflation may lead consumers to prioritize essential spending over home improvements, affecting HD's revenue.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80