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Did You Know ...? 6 June 2023

By Donna Ahern
Did You Know ...? 6 June 2023

Did you know ...? More than three quarters (77%) of consumer goods industry leaders believe investment in sustainability will help to accelerate business growth, while 61% say that they are 'purposefully aligning' their sustainability and operational goals, a new study has found. ESMmagazine.com reported that the study, Redesigning brand values: Purpose and profit converge in core operations, was carried out by IBM and The Consumer Goods Forum, and surveyed 1,800 consumer goods executives across 23 countries.

Did you know ...? Weak profit forecasts from department store chain Macy's to discounter Dollar General on Thursday underscored the fragile health of the US consumer as persistent inflation curbs spending. Several US retailers said sales have ebbed as consumers react to higher prices for food and other essentials, reports Reuters. Broadly, US consumer spending trends showed resilience in the face of high inflation, but big-ticket purchases suffered. Upscale retailer Macy's said the US consumer pulled back more than anticipated and slashed its annual sales and profit forecasts for the year. The glum forecast sent shares of the company down 4%.

Did you know ...? Chicago wheat climbed over 2% on Tuesday to a near three-week high as a breach in a dam in southern Ukraine heightened worries about an escalation in the war between major grain exporters Ukraine and Russia. Millions of litres of water burst through a hole in the Russian-controlled Nova Kakhovka dam, which holds water equal to that in the Great Salt Lake in the US state of Utah, threatening scores of villages and cutting off water supplies, reports Reuters. That added to supply worries in wheat as dry weather grips part of Europe and Russia that had fuelled gains in US and European futures on Monday.

Read More: Did You Know ...? 30 May 2023

© 2023 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more retail news, click here. Click subscribe to sign up for the Checkout print edition.

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