(DAILY WIRE) – Retail giants reported mixed earnings results this week as inflation and supply chain issues continue to disrupt operations.
Retail and food services sales for the month of July remained virtually unchanged from June, according to a Wednesday report from the Census Bureau, reflecting a Consumer Price Index (CPI) that remained flat during the same period. As year-over-year inflation nevertheless remains at 8.5% — continuing to rival four-decade highs — retailers are witnessing disruptions in consumer behavior and adjusting their business practices in response.
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Target, for instance, reported a 90% decline in quarterly profits from last year, which occurred amid the company’s decision to mark down unwanted inventory ahead of the holiday season.