Retail expert warns recession just ‘around the corner'
Returns, inflation could lead to a recession, Burt Flickinger said
Strategic Resources Group Managing Director Burt Flickinger discusses how inflation in the retail industry is signaling a potential recession soon.
During an interview on "Mornings with Maria" retail expert Burt Flickinger explained how the increase of items returned at retail stores combined with inflation could potentially lead to a recession in the near future.
SHRINKFLATION REDUCES SIZE OF POPULAR CONSUMER PRODUCTS
BURT FLICKINGER: It is troubling, Maria, because to your point, you've go to 16.6% this year versus the 10.6, the reference the cost of every return is $33 on a $50 item, the profit out of $50 items, only $1. So the retailers are losing a fortune. So that means higher prices and lower standards of living for consumers. And that with the McDonald's news, today is a harbinger of the recession coming more quickly around the corner.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
WATCH THE FULL INTERVIEW HERE:
Strategic Resources Group Managing Director Burt Flickinger weighs in on higher prices in the retail industry and which sectors are experiencing the most growth.