20 Apr '17, 9pm

IRS Delays Have Slowed Sales For Everything From Sneakers To Penne Alfredo

Tax refunds for millions of predominantly low-income Americans have been delayed this year, and the companies where they shop and eat are reporting a slowdown in sales. For people living paycheck-to-paycheck, tax refunds can be the one time of the year when a little extra money lands in the bank, and sellers of everything from shoes to meals benefit as that cash flows through the system. But with the payments coming weeks later than usual this year, those companies are feeling the pinch. At Foot Locker, sales in February fell significantly compared to last year, down by "low double digits" on a percentage basis, the company's CEO said in a statement Thursday. "We believe the delay in the issuance of the vast majority of income tax refund checks until after the NBA All-Star Game significantly affected our February comparable store sales," he said. Shoe makers often release ...

Full article: https://www.buzzfeed.com/matthewzeitlin/irs-delays-slowed...

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