Not a revenue-shocker (they were up even from stimulus-miracle a year ago), but a cost-shocker. Unable to pass on all the cost increases, their margins got squeezed.

Housing Bubble Getting Ready to Pop: Mortgage Applications Plunge amid Holy-Moly Mortgage Rates, Croaking Stocks, Ridiculous Home Prices

by Wolf Richter • May 18, 2022

“Recent stock market volatility” catches some of the blame.

Americans Are in a Sour Mood, But it Didn’t Dampen their Spending: Splurging at Retailers, Especially Some Retailers

by Wolf Richter • May 17, 2022

Retail Therapy at Bars & Restaurants, Cannabis Stores, and Ecommerce? Other retailers not so lucky.