Retailers, consumers and prices
During Big Lots’ conference call, the closeout retailer was asked what it is seeing in terms of product cost inflation, especially when it comes to merchandise that is sourced in Asia.
CEO Steve Fishman was unambiguous in his answer: “That’s real. That’s very real”
Fishman said factors like the devaluation of the dollar and rising salaries overseas are making sourcing products from Asia more expensive.
“There are absolute real cost pressures coming in from overseas,” he said.