Inventories Jump, Putting Pressure on Profits as Businesses Face Steep Discounts to Clear Glut

Customers shop at a Target store in San Rafael, Calif., on June 8, 2022. Justin Sullivan/Getty Images

Economic indicators for June showed that U.S. retail inventories are rising and businesses have been facing financial pressure to clear out a glut of excess merchandise, according to a June 28 report from the U.S. Census Bureau.

Wholesale inventories in May went up by 2 percent from April to $880.6 billion, with a 25 percent year-over-year increase from May 2021.