It’s all your fault. Yes, you, Mr. or Ms. Consumer, because you’re apparently preoccupied with the election instead of out shopping like a proper American should. How do we know this? Executives of publicly-traded companies keep getting on conference calls with analysts and journalists and saying so.
An analysis by Reuters (Warning: auto-play video at that link) shows that 80 executives have specifically mentioned the election during their quarterly earnings calls, usually as an excuse for poor sales. Companies selling everything from furniture to appliances to recreational vehicles are holding back, the executives say.
It’s not just that people don’t want to buy stuff: they don’t want to buy new businesses, either. The CEO of Dunkin’ Donuts blamed the election for slowing growth in new franchisees, noting that the election results will determine the future of workplace regulations and minimum wage and benefits laws. That apparently makes aspiring donut shop owners hesitant to open new outlets.
Not everyone buys this excuse, of course. Reuters compares executives’ use of the election as a reason for poor sales to a child saying that the dog ate their homework. It’s like CEOs have an especially rambunctious new puppy at homes, and are taking advantage of the opportunity.
The election ate their homework? CEOs blame campaign for weakness [Reuters] (Warning: auto-play video)
by Laura Northrup via Consumerist