US Consumer Confidence Dropped Sharply in February: “In February, consumer confidence registered the largest monthly decline since August 2021,” said Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board. “This is the third consecutive month on month decline, bringing the Index to the bottom of the range that has prevailed since 2022. Of the five components of the Index, only consumers’ assessment of present business conditions improved, albeit slightly. Views of current labor market conditions weakened. Consumers became pessimistic about future business conditions and less optimistic about future income. Pessimism about future employment prospects worsened and reached a ten-month high.”
Inflation, looming trade war take a toll as confidence of the U.S. consumer tumbles | AP News: The Conference Board reported that its consumer confidence index sank this month to 98.3 from 105.3 in January. That’s far below the expectations of economists, who projected a reading of 103, according to a survey by FactSet. The seven-point drop was the biggest month-to-month decline since August of 2021.
Appeals Court Won’t Return Serta Simmons Lender Dispute to New York - WSJ: The Fifth Circuit reaffirmed its landmark ruling that the mattress maker overstepped by giving some senior lenders dibs on its assets while excluding others
Burger King, Popeyes Franchisee Gets Debt Help as Cash Dries Up: GPS Hospitality LLC, which operates networks of fast-food chains Burger King and Popeyes Louisiana Kitchen, is huddling with advisers about how to manage a shrinking cash pile amid revenue headwinds, according to people with knowledge of the discussions.
SBA Silence Delays Small Business Bankruptcies, Raises Costs: Small business owners are experiencing delays in their bankruptcy proceedings and rising costs when government creditors fail to vote on their restructuring plans.
Beyond slashes SKUs and vendors as Q4 revenue falls 21% | Retail Dive: Beyond is cutting SKUs and vendors as its sales continue to fall, the company said on an earnings call Tuesday. Bed Bath & Beyond cut its SKU count from 12 million to under 6 million by November and cut an additional 1 million SKUs and 800 vendors in December, Beyond President Dave Nielsen said.
