As the nation’s biggest retailers kick off key sales week, former Walmart U.S. CEO Bill Simon warns consumers are at a tipping point.
As three of the nation's biggest retailers kick off key sales week, former Walmart U.S. CEO Bill Simon warns consumers are starting to buckle for the first time in a decade.
He's blaming a list of headwinds weighing on consumers including inflation, higher interest rates, federal budget wrangling, polarized politics and student loan repayments — and now new global tensionsCNBC Daily Open: The Israel-Hamas war shouldn't affect markets much "They usually say 50-inch TV $199 or something like that. And now, they say 50-inch TV 40% off," said Simon."You use percentages when you're not real proud of your price point. I think you've got inflation pushing the relative price points up.""It's solely because of the food business," Simon said."They're going to have both the eyeballs and the food traffic to probably have a better Christmas than maybe their competitors.
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