
Despite economic uncertainties, the grocery retail industry is expected to remain resilient due to inelastic demand for its products. So, quality grocery stocks Walmart Inc. (WMT), PriceSmart, Inc. (PSMT), and Ingles Markets, Incorporated (IMKTA) could be wise additions to your portfolio now.
Retail sales in the US rose 0.2% month-over-month in June 2023, following an upwardly revised 0.5% increase in May. Consumer spending remained steady as inflation declined to two-year lows in June.