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Bass Pro Shops founder and CEO Johnny Morris said the retail chain will focus on affordability heading into boating and fishing season amid continued inflation.
“Inflation is here. It’s real,” Morris told FOX Business during a video interview.
Inflation is currently at 3.4%, which is 1.4% higher than the Fed's 2% goal, though lower than its peak of 9.1% in June 2022. Energy prices rose for the third consecutive month in April and the cost of gas was 2.8% higher, according to the Labor Department's consumer price index via the New York Post.
Bass Pro Shops ended its previous inflation buster savings program in late 2023, however, has promised to continue efforts to combat inflation as consumers pay higher prices.
“We worked hard, and we still focus on affordability,” said Morris, who founded the retail chain decades prior, via FOX Business.
Bass Pro Shops is offering consumers payment plans charing as low as $5 and $10 daily to finance a boat, some of which are priced in the tens and hundreds of thousands on the store's website.
“My dad was big on delivering value to customers,” Morris said via FOX Business. “One of his sayings to me every day was, ‘Johnny, it’s not worth any more on your shelf than it is your competitors.’”