Where Will American Express Be in 1 Year?
The economy is pressured, many retailers are dealing with sales declines and losses, and the end isn't in sight yet. But some companies are demonstrating solid performance, like American Express (NYSE: AXP). How has it done this? Let's take a look at how it got there and where it's going.
American Express has been posting strong growth since it rebounded from pandemic declines. That continued with a 22% year-over-year sales increase in the 2023 first quarter, despite macroeconomic headwinds.
Part of the excellent performance is due to its highly resilient client base, which is more affluent than the average American and which is still getting back into leisure activities that were curtailed under lockdowns.
Source Fool.com
