Consumer Recession Is Coming, Weaker Retailers Will ‘Really Suffer’: Former Toys R Us CEO

Consumer Recession Is Coming, Weaker Retailers Will ‘Really Suffer’: Former Toys R Us CEO
A woman shops in a supermarket in the Manhattan borough of New York City on June 10, 2022. Andrew Kelly/Reuters
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Former Toys R Us CEO Gerald Storch has warned that a consumer recession is on the way and that “weak” retailers will suffer as consumers splash out less on retail goods.

In an interview for the Fox Business program “Varney & Co.“ on July 12, Storch said that retailers feared they would be unable to get inventory into the country before the holiday season, so they ordered ”just too much of everything,“ which in turn has left the goods ”sitting on the shelves” as consumers redirected their priorities to going out as opposed to staying at home.
Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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