American shoppers are tired. These companies are benefiting

Americans are worn down by inflation, so they’re increasingly choosing to buy cheaper products. Companies that offer bargains and staples are reaping the rewards.

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Americans are worn down by high inflation and interest rates. Companies that offer bargains and staples are reaping the rewards. Just ask Ross Stores: America’s largest off-price retailer reported earnings and revenue that beat analysts’ forecasts last week. Company executives said they’re planning on opening about 90 new stores this year. “There’s clearly a lot of uncertainty in the macroeconomy,” Adam Orvos, executive vice president and chief financial officer at Ross Stores, said in an earnings call. “The silver lining for our business is the customer is seeking value more than ever, and we’re in a position to deliver that.” TJX, the parent of TJ Maxx, Marshalls and HomeGoods stores, has also benefited. The company recently reported strong revenue in its latest quarter and is also planning to expand its physical footprint — by more than 1,300 stores in North America, Europe and Australia. And Dollar General last week beat Wall Street’s estimates for sales and reported increased foot traffic in the first quarter.