Inflation continued to loom in Q3 2022 and it has proven to be the defining force for many retailers. Walmart’s comparable sales rose 8.2% as shoppers flocked to the retail giant for inexpensive groceries, while Target’s comparable sales rose 2.7% as it engaged in deep discounts to clear excess inventory. Price-conscious shoppers proved to be to a double-edged sword for ThredUP — the retailer saw 7% sales growth year-over-year, but margin and profit both fell as deep discounts by traditional retailers drove competition.
