Inflationary pressures in the U.S. has led to a typical American household spending $700 more per month than they did two years ago for the same goods and services. And that’s a cause of concern for retailers like J.C. Penney.
“If you’re a family on a $75,000 household income, that means that you are making real tradeoffs in your life and having to face real choices about where you can spend your money,” said J.C. Penney CEO Marc Rosen. “Our customer is feeling stretched.”
