Americans are finding themselves with a few extra dollars to spend this tax season: the average tax refund is up 6% year over year to $3,081. Yahoo Finance reporter Brooke DiPalma joins Wealth! to discuss which retailers stand to benefit from the spike in tax refunds.CFRA Analyst Arun Sundaram indicates that higher refunds could be a boon for discount retailers such as Walmart, Dollar General, and Dollar Tree. Tax refunds typically have a greater impact on lower-income families who may use the extra cash for everyday essentials. Auto retailers and sporting goods stores, with more exposure to lower-income shoppers, may also see a boost. Stores that cater significantly to groceries and other everyday goods may see little change in earnings.
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
