Back to school breakdown:
The spending outlook for the back-to-school season looks more muted this year as indicated by a proprietary survey run by research firm Gordon Haskett. The firm said 37% of respondents plan to spend more on back-to-school items than a year ago versus 52% a year ago with gas and food inflation impacting household spending sentiment.
Apparel and school supplies are expected to see the largest category bumps and electronics is seen lagging. Dollar stores and off-price retailers are forecast to see the largest uptick as prime BTS shopping destinations. Dollar Tree (DLTR) and Macy’s (M) were singled by the firm as two retail chains with a notable increase in consumer interest within the spending survey.