“Cost-of-Living Crisis Hits Sales of Food, Cars, Luxury Goods”
July 26, 2024
“…Nestle SA, the world’s biggest food company, cut its revenue outlook for the year on Thursday, while Unilever Plc reported sales that missed estimates and Jeep-owner Stellantis NV posted a plunge in profit. A day before, US appliance maker Whirlpool Corp. lowered its earnings forecast, while big US airlines have warned that cut-rate airfares are weighing on sales and profits…
A cost-of-living crisis has taken its toll on shoppers who’ve traded down to cheaper brands, and consumer giants have struggled to coax them back. Around 80% of US shoppers are reducing grocery spending, according to a recent poll of 1,000 people who broadly represent the US demographic by Savings.com, a website that offers coupons…”
https://www.msn.com/en-us/money/other/ar-BB1qBWzC