Macy's (M) revealed in its first quarter earnings report that more consumers with Macy's credit cards are falling behind on their payments. The company's credit card revenue was $117 million in its first quarter, a decline of $45 million from the prior year. This figure signals a weakening consumer as inflation remains sticky and wallets tighten. Credit card delinquencies rose nearly 8.9%, according to the Federal Reserve Bank of New York. Meanwhile, the average credit card debt per borrower, according to TransUnion, sits at just over $6,000. Yahoo Finance's Seana Smith breaks down this consumer pressure and how major companies are responding. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl
Kyle Shanahan has solved modern offensive football. This graph shows how:
"We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more."
Thru | Total | Purse | ||
---|---|---|---|---|
F | -14 | $450,000 | ||
F | -13 | $277,738 | ||
F | -10 | $146,358 | ||
F | -10 | $146,358 | ||
F | -10 | $146,358 | ||
F | -10 | $146,358 | ||
F | -9 | $64,365 | ||
F | -9 | $64,365 | ||
F | -9 | $64,365 | ||
F | -9 | $64,365 |