On a conference call with industry analysts on Thursday, Walgreens CEO Tim Wentworth announced the company’s intention to eliminate a significant portion of its U.S. stores over the next three years.
Read More Walgreens To Shutter ‘Significant’ Number of Underperforming Stores In U.S.
The mixed survey also showed consumers’ perceived likelihood of a recession over the next 12 months retreated this month.
Read More US consumer confidence retreats slightly; house prices remain elevated
U.S. retail sales barely rose in May, suggesting that economic activity remained lackluster in the second quarter.
Read More US retail sales rise less than expected in May
It is a worrying sign for the Fed, suggesting that the elevated pace of price increases could last longer than expected.
Read More Inflation rises moderately in April, consumer spending slows
U.S. online spending is experiencing a rebound, spurred by high gas prices, convenient delivery options and a surge in deals following a brief post-pandemic slump.
Read More Target, Walmart shoppers seek home goods, grocery delivery online
According to the latest report, inflation increased in March, with a key barometer the Federal Reserve watches closely showing that price pressures continue to increase.
Read More Report: Inflation Increased Again In March As Consumer Spending Rose