Well, they’re saying the stimulus checks are all spent.
Though we saw some boosts in July sales, particularly at discounters like Costco and Wal-Mart, apparel and department stores were both hammered by same-store sales plunges. We guess people were a little more interested in necessities than getting the newest handbag.
So we’re wondering what the future brings. If discount chains are the outfits that benefited from the stimulus checks in the first place, what will happen to their sales for the rest of the year, now that they’re gone?
Or were those handouts just a failed, over-hyped political solution that never had any impact in the first place?