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21.06.25 - 16:42
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Walmart Remains Price Discount Juggernaut (ZeroHedge)
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Walmart Remains Price Discount Juggernaut
Cash-strapped consumers are pulling back on spending—particularly on big-ticket items—as economic uncertainty and tariff risks continue to plague outlooks and squeeze household budgets. Goldman's latest grocery pricing survey for June offers a clear framework for value-seeking shoppers: among all major supermarkets, Walmart remains the most competitively priced, especially for perishable goods.
Goldman analysts, led by Leah Jordan, sampled 38 SKUs across dairy, frozen, dry grocery, household-personal care (HPC), and produce of Kroger (KR), Albertsons/Randalls (ACI), Walmart (WMT), Sprouts (SFM), Whole Foods (WFM) and Dollar General (DG) for June.
The biggest takeaway that Jordan found is that Walmart continued to have the "lowest prices" of any supermarket chain:
As highlighted in Exhibit 1, WMT had the lowest prices at -12.6% vs. the group average (widened from -12.2% last month), followed by KR at -4.7% (vs -2.6% last month). WFM...
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11.06.25 - 02:19
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Mapping Out Welfare Shockwave By Retailer If SNAP Cuts Passed (ZeroHedge)
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Mapping Out Welfare Shockwave By Retailer If SNAP Cuts Passed
The House Republican reconciliation bill, currently at the Senate, would, if passed and signed by President Trump, reduce federal spending on the Supplemental Nutrition Assistance Program (SNAP) by $300 billion through 2034.
Goldman Sachs' retail desk found that SNAP dependency across major retail chains is very alarming and clear, with Dollar General (DG) and Dollar Tree (DLTR) most exposed if SNAP reductions are seen.
SNAP-linked exposure to sub-$70K income households hits 5.2% at DG, 3.5% at DLTR—compared to just .4% at Sprouts (SFM). Even Walmart (WMT) isn't safe, with a 3% exposure to SNAP.
"Based on household income profiles and average county exposures, we found that DG and DLTR have the highest exposure to SNAP consumers relative to the other companies, with BJ and SFM having the smallest exposure," Goldman analysts, led by Kate McShane, wrote in a note on Tuesday.
McShane noted that many of these...
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09.06.25 - 23:42
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Retailers Offer Goldman A Consumer Reality Check As One Thing Remains Clear (ZeroHedge)
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Retailers Offer Goldman A Consumer Reality Check As One Thing Remains Clear
With just three weeks left in the second quarter and the summer season in full swing, a key question emerges: What's the state of the consumer?
Goldman Sachs analysts Kate McShane, Mark Jordan, and others published a note on Monday offering valuable insights into consumer trends following meetings with the management and investor relations of Dollar General, Dollar Tree, Five Below, Leslie's, and Ollie's Bargain Outlet. This comes as the first half of the year was marked by market turbulence, sliding sentiment, and escalating trade war tensions.
McShane's discussions with the management teams of DG, DLTR, FIVE, LESL, and OLLI painted a picture of cautious optimism. While companies are seeing pockets of resilience, persistent economic pressures, particularly elevated inflation and interest rates, continue to weigh heavily on discretionary spending, especially among the working poor segment.
Longer-form ta...
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