Big box retailers reported a mixed bag of earnings this week in a sign that consumers are shifting their focus and spending back toward experiences as the pandemic recedes.
Walmart reported positive earnings results in 1Q and raised its full-year guidance, indicating that consumers are still spending, albeit while seeking bargains and reducing discretionary spending.
Other retailers, such as TJX and Target, also reported mixed results, with modest sales growth but a pullback in discretionary spending.
Here’s a roundup of the big earnings releases from the week: