'A little numb' to tariffs and 'very resilient': How CEOs are describing American consumers

Getty and Reuters imagesTop CEOs see American consumers as remaining cautious.Some think that consumers have learned to ignore concerns about tariffs.But persistent inflation continues to affect purchasing decisions.Another earnings season has kicked off, and that means CEOs are providing their perspectives on consumer spending.They're also talking about the broader economic environment, which has improved but remains uncertain in many respects.Here's what CEOs are saying so far as the earnings season kicks into full gear.Delta CEO Ed Bastian sees an "incredibly stable" environmentDelta CEO Ed BastianBrian Snyder/ReutersDelta reinstated its 2025 profit outlook, a sign that dovetails with CEO Ed Bastian's view that the current environment is "incredibly stable."Consumers, Bastisan told Bloomberg, have become "a little numb" to headlines about trade wars.Bookings are not where Delta forecast they would be at the start of the year, but they have stabilized."People are still traveling," Bastian told CNBC. "What they've done is they've shifted their booking patterns a little bit. They're holding off making plans until they're a little closer in to their travel dates. And so that's shifted some of our bookings and yield management strategies."Ralph Lauren CEO Patrice Louvet sees "resilient" consumersRalph Lauren CEO Patrice LouvetEvan Agostini/Invision/APTariffs may be in fashion, but that hasn't dampened demand, Ralph Lauren CEO Patrice Louvet said."Our core consumers are actually still very resilient," Louvet said. "When you look at the part of our lineup that is responding really nicely right now, it's our core products."ConAgra CEO Sean Connolly sees consumers under pressureConagra CEO Sean ConnollyEduardo Munoz/ReutersConAgra CEO Sean Connolly says inflation is still affecting his company's bottom line. Its persistence means consumers are being forced to adjust, too."Consumer sentiment remains under pressure," Connolly said in recorded remarks before the food and snack company's earnings call. "The cumulative impact of inflation and economic uncertainty has led to value-seeking behaviors becoming even more pronounced."Carmax CEO Bill Nash sees "less stressed" consumersThe sign of a CarMax dealership is pictured in DuarteThomson ReutersCarmax CEO Bill Nash says consumers are "less stressed," but that doesn't mean there's a fully optimistic outlook."I would say from a consumer sentiment standpoint, they're probably a little less positive about the future, but I don't think it necessarily showed up so much in the buying habits at this point," Nash said on Carmax's earnings call.Kroger CEO Ron Sargent sees cautious consumersA customer is loading his truck after shopping at a Kroger grocery store.Brandon Bell via Getty ImagesKroger CEO Ron Sargent said consumer confidence remains down. In an uncertain environment, he said, shoppers are looking for deals."I think in terms of the consumer, we expect the consumer to remain cautious throughout the year," Sargent said on Kroger's earnings call. "And we're responding to that with simpler promotions, coupons, lower prices, and a lot of on-brand choices."Sargent said Kroger continues to see more consumers shop at the store versus opt for a night out."They're making more frequent trips to the store," he said. "The average basket is less. When you look at spend in total, I think it's been very stable."Read the original article on Business Insider

Comments

Business News

Here Are The All Star Home Run Derby Participants

Forbes

In our 50s, we moved to a remote Pacific island. We know we'll need better healthcare someday, but for now, it's paradise.

about 4 hours ago

Tesla makes moves to expand robotaxis in the Bay Area and Phoenix

insider

White House financial watchdog rips Jerome Powell over $2.5 billion revamp of Fed HQ — warns construction could be halted

about 7 hours ago

Skynews

Comments

Business News

Here Are The All Star Home Run Derby Participants

Kendra Bulluck-Major Is Building An Empire With Legacy Sports

Trump threatens 35% tariffs on Canadian goods

In our 50s, we moved to a remote Pacific island. We know we'll need better healthcare someday, but for now, it's paradise.

Tesla makes moves to expand robotaxis in the Bay Area and Phoenix

Bitcoin Hits Record High Ahead Of ‘Crypto Week’

How 'Jaws' Redefined Movie Tech And Ocean Awareness

‘Dexter: Resurrection’ 100% Rotten Tomatoes Critics Score Sets Record For Franchise

June heat and thunderstorms spell tough month for high street

Vital investment in Heathrow is a gateway for growth for the whole of the UK

June heat and thunderstorms spell tough month for high street

Tennis legends Andy Roddick, Martina Navratilova sneer at Bill Ackman for playing in pro match: ‘The biggest joke’

Jamie Dimon lashes out at ‘Marxist’ Zohran Mamdani, left’s DEI push: ‘Big hearts and little brains’

Interest will restart for 8 million student loan borrowers after year-long pause

Rattled NYC elite try to tame Marxist Mamdani

Popular car in urgent safety recall due to lethal flaw still being sold online

Job-seeking platforms Indeed and Glassdoor to slash 1,300 jobs as parent company bets on AI

My family of 4 moved to Germany for my husband's job. We've become closer, but miss our relatives back home.

Edgar Berlanga Vs. Hamzah Sheeraz Fight Prediction, Odds And Picks

What Has Been Most Decisive In Stopping The Spread Of Nuclear Weapons?

Today’s ‘Wordle’ #1483 Hints, Clues And Answer For Friday, July 11th

‘Virgin River,’ Netflix’s Longest-Running Series, Renewed For Season 8

This Palestinian Olympian Continues To Chase After Her Dream On The Track

Lena Dunham Talks About Obsession After Heartbreak In Netflix’s ‘Too Much’

Atlanta Whataburger Transforms Into ‘Wittaburger’ Celebrating All-Star Bobby Witt Jr.

Caleb Downs On Key To Ohio State Buckeyes Repeating As National Champs & Being An NCAA Football 26 Cover Athlete

Texas AG Ken Paxton’s Wife Files For Divorce—Citing ‘Biblical Grounds’ And ‘Recent Discoveries’

Port of Vancouver seeks bidders for massive Roberts Bank terminal expansion

'Autofocus' specs promise sharp vision, near or far

Asia is reeling from Trump's tariff salvo – is anyone winning?

Missouri governor repeals paid sick leave law approved last year by voters

Watchdog slams OpenAI with IRS complaint — warning CEO Sam Altman is poised for windfall in violation of US tax law

Record-high rents and bidding wars leave NYC house hunters scrambling for shelter this summer

New York lost many construction jobs during the pandemic — and still hasn’t recovered: report

Don Lemon’s lawsuit against Elon Musk for axing X show gets green light

White House financial watchdog rips Jerome Powell over $2.5 billion revamp of Fed HQ — warns construction could be halted

Handbag sells for &#163;7.4m at auction

Blackstone ups ante in £489m battle for British property firm Warehouse REIT

FTSE shrugs off tariff fears to hit new high as investors bet Trump will U-turn on 50% copper levy

'Too hot to shop': Misery for High Street retailers as UK heatwave sees shopping trips melt away

Perils of share volatility: Private equity sees Britain's second tier public firms as easy pickings, warns ALEX BRUMMER

Handbag maker Mulberry raises £20m from shareholders as sales plunge

Windfall for CofE as fund manager in which it holds majority stake is sold to rival Jupiter in £100m deal

Why the next app for relationships won't look like a dating app, according to a VC

I tried McDonald's long-anticipated Snack Wraps, and they were completely worth the wait

That new Jack Dorsey messaging app? He vibe-coded it

Linda Yaccarino lost her blue checkmark… but now it's back

'A little numb' to tariffs and 'very resilient': How CEOs are describing American consumers

Jensen Huang's net worth is $142 billion. Here's how the Nvidia CEO built his fortune and spends his money.

The Bigger Economic Meaning Of Amazon Prime Day

One Of The Best Action Movies Ever Made Lands On Netflix Today

Mahmoud Khalil Sues Trump Administration For $20 Million Over Alleged False Imprisonment

Justin Bieber Announces Music Comeback: New Album Reportedly Drops Friday

Just Before Blackpink Returns, One Of Its Members Charts A New Top 40 Smash

What Is ‘Squid Game’ Season 3 Really About?

Stray Kids Member Scores His First Solo Smash With A Major Duet

Trump’s New Tariffs Could Cost Households $2,400 This Year, Analysis Finds

Denver Nuggets’ 3-Time MVP Jokic Opts Against Extension ... For Now

How AI And Technology Are Reshaping The Oil And Gas Workforce

European Court: Russia Accountable For Widespread Abuses Of Human Rights In Ukraine

Handbag sells for £7.4m at auction