Eager to attract Black Friday shoppers and streamline older inventories, U.S. retailers are competing via promotional pressure. In the U.S., inventories of the S&P 500 companies reached US$1.14 trillion in Q3, up by 16.3% year-on-year.
As a result, profitability of retailers has not improved. According to S&P, an average margin on earnings before interest and tax reached 10.7% in Q3 (down by 2.5% in one year). This trend has been evident since the beginning of 2022. According to the Hackett...
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