Nine major retailers are scheduled to report earnings and issue guidance this week.
Leading economic indicators are signaling that the country is likely to enter a recession in the first or second quarter of this year, according to Conference Board economists who spoke at a media briefing last week.
Complicating spending forecasts is the fact that the labor market has remained strong. Labor shortages are expected to keep the labor market tight and the unemployment rate relatively low, Peterson said. Richard McPhail, chief financial officer at Home Depot, cited the shift to experiences and services as a risk to the home improvement retailer’s top line in the company’s earnings call last week.
Other factors that could mean uncertainty for retailers include the debt ceiling debate in Washington, D.C., and the worsening debt level. “Even the debate itself, as it gets close to the cliff, is disruptive” to the economy, Lori Esposito Murray, president of the Committee for Economic Development, the public policy center of the Conference Board said in the briefing last week.
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