(WHTM) — New figures show Americans are going on a shopping spree ahead of the holiday season. Despite challenges caused by the pandemic and supply chain issues — some major retailers insist they’re ready, like Walmart.
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A new earning report shows Walmart’s inventory levels are actually up 11& from the same time last year. The country has now seen the highest inflation in 30 years, driving up prices, but that is not stopping some eager shoppers.
Home Depot’s reported a nearly 10% increase in earnings and new data from the Commerce Department shows retail sales jumping nearly 2% from Sept. to Oct., more than what was predicted.
As for the backlog of Cargo ships at the country’s ports, the Port of Los Angeles reports since last month a 29% drop in the amount of cargo sitting unloaded. Transportation Secretary Pete Buttigieg says efforts are underway to ease the bottleneck and encourage more 18 to 21-year-olds to start a career in truck driving.
“I heard someone saying this is less a silver bullet situation – it’s more silver buckshot with a lot of different solutions that can be deployed at the same time,” Buttigieg said.
To avoid bottlenecks at the ports, Amazon is expanding its fleet of cargo planes to 85% by Christmas.