Inflation is hammering Target, leading to worst single-day sell-off since 1987

The pandemic vastly changed the way Americans spend money and now as they return to pre-pandemic behavior, they’re tripping up retailers again.

The financial app Dave promises its customers freedom from expensive bank overdrafts. But for almost all of its users, its services are hardly free.near four-decade highs. Target said that revenue rose 4% to $24.83 billion in its most recent quarter, which was a little better than expected.

Laura Veldkamp, a finance professor at Columbia University, says the constant “yo-yo of demand” has also contributed to pushing inflation higher because it has made it harder for businesses to plan. At Walmart, higher labor and fuel costs as well as higher inventory levels dragged down the company’s profit. Walmart said customers spent on food and other basic consumer goods, shifting away from discretionary items that had previously added to its bottom line.

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