Tausi Insider

A Macy's store in the Downtown Crossing district, in Boston, on Nov. 17, 2021. Charles Krupa/The Associated Press Upscale U.S. retail chain Macy’s Inc M-N raised its annual profit forecast on Thursday on resilient demand for high-end clothes and beauty products, while the inflation squeeze on lower-income shoppers forced rival Kohl’s Corp KSS-N to scrap its forecast. Luxury goods sales have held up for Macy’s as affluent shoppers returning to social events after the pandemic splurge on pricier handbags, perfumes, clothing and gifts heading into the holiday season. But Kohl’s withdrew its annual forecasts, as the company, which caters more to lower-income customers and stocks fewer luxury goods, reeled from weakening demand due to rising prices. “The Kohl’s customer is being hit by inflation a lot more than Macy’s,” said Jane Hali & Associates analyst Jessica Ramirez. “Shoppers are also now traveling and returning to offices, and Macy’s has a better collection of those product...

A fast-moving conveyor moves packages to delivery trucks at an Amazon fulfillment centre in Robbinsville, N.J., on Nov. 29, 2021. MIKE SEGAR/Reuters Spending on Cyber Monday, the biggest U.S. online shopping day, may hit a record $11.6 billion, according to a report, as discounts on everything from pajamas to AirPods drive shoppers to buy even under the strain of inflation. The Adobe Analytics report is predicting Cyber Monday spending of $11.2 billion to $11.6 billion, an increase of up to 8.5% from a year earlier, as inflation-weary consumers have been putting off holiday shopping for weeks in the hopes of deep post-Thanksgiving markdowns. Adobe Analytics, which measures e-commerce by analyzing transactions at websites, has access to data covering purchases at 85% of the top 100 internet retailers in the United States. Cyber Monday sales fell 1.4% last year as retailers spread out promotional deals across weeks from as early as October to better manage inventories amid widespread p...