Americans use their $1,200 stimulus checks to splurge at Walmart, Target and Best Buy — here’s what they’re buying
While many Americans have used their stimulus checks to cover basic needs such as groceries, mortgage or rent, there’s evidence people are also spending the money on non-essentials including electronics, clothes and toys, according to major retailers.
“Call it relief spending, as it was heavily influenced by stimulus dollars, leading to sales increases in categories such as apparel, televisions, video games, sporting goods and toys,” Walmart WMT, -0.36% CEO Doug McMillon said during the company’s earnings call Tuesday.
Target TGT, -0.79% and Best Buy Co. BBY, -4.36% also saw increased...