Marty Cantor, CPA and economic development consultant, joined Cheddar News to discuss the landscape of the retail industry. With cornerstone department stores like Bed, Bath and Beyond and Party City filing for bankruptcy, Cantor said "people are just running out of money." He said discretionary spending is halting as the cost of other goods and services increases, ultimately impacting the bottom line of major retail giants.
Customers fell for Starbucks' fall menu in the fiscal fourth quarter, with Pumpkin Spice Lattes and apple croissants helping the company achieve record revenue.
