Food And Energy Inflation Is Catching Up With Discount Retailers

Posted on AllSides March 25th, 2022
From The Center

Higher food and energy prices that have helped push the U.S. inflation rate at a 40-year high are beginning to catch up with discount retailers, hurting sales and profits.

This week, discount retailer Ollie's Bargain Outlet reported a 2% drop in net sales for the fourth quarter of 2021 and a 3.1% drop for the full fiscal year. Comparable-store sales dropped 10.5% for the quarter and 11.1% for the year. In addition, operating income decreased 32.1% for the quarter and 26.3% for the year.

Ollie’s disappointing financial results come after a FactSet...

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https://www.ibtimes.com/food-energy-inflation-catching-discount-retailers-3451068

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