Michael Lasser, UBS Securities, joins 'Squawk on the Street' to discuss if Foot Locker's is a good lens into retail, the notion that certain companies will benefit from trade-downs and the shrinkage issue in retail.... ( read more )
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Discretionary retail is already in a recession and likely to get worse, says UBS' Lasser According to UBS' retail analyst Jay Sole, the discretionary retail sector is already in a recession, and things are expected to worsen in the coming months. Discretionary retail, which refers to non-essential consumer goods like clothing, electronics, and luxury items, has been hit hard by the economic downturn caused by the COVID-19 pandemic. The retail industry has been grappling with store closures, supply chain disruptions, and reduced consumer spending. As people
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