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“Budget-conscious consumers have been under a prolonged period of stress for many months now, and they are getting more selective,” said CEO Wade Miquelon.

Miquelon said, however, that inflation is subsiding even as the U.S. potentially heads into “something more typical of a recessionary environment in the short term.”

“We’re not a huge company, but that $100 million increase that they passed onto us is, you know, more than our entire profit,” Jo-Ann Stores CEO Wade Miquelon told the president in the video.

The Bahamas, Belize, and the islands of Saint Pierre and Miquelon sold them millions of gallons of liquor.

A French MP has been attacked by a crowd of Covid-19 pass protesters outside his home in the overseas territory of St Pierre and Miquelon.