Walmart, Target and dozens of other major U.S. retailers are canceling billions of dollars in orders ahead of the coming holiday season, according to reports.
The holiday season is usually the busiest time of year, and at this time in 2021 there were concerns the global supply chain couldn’t handle the demand.
But it’s the opposite in 2022.
“All of a sudden major retailers are feverishly canceling orders, and this would only make sense if a severe economic downturn was imminent,” journalist Micheal Snyder writes.
Walmart admitted that it has canceled “billions of dollars in orders” as the upcoming holiday season approaches.
Per Retail Wire:
Meanwhile, Target canceled “more than $1.5 billion” in orders.
Per End Time Headlines:
Kohl’s and Under Armour have also canceled huge numbers of orders.
Footwear News reports:
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