Dollar General CEO makes grim admission amid Trump's trade war

[Bernardo de La Paz]

6. Good point. I wonder if it is by comparison, key being "outperformed"

If all (or essentially all) companies decline in a recession or depression, then cosmetics and the like also decline, but less.

And there might be a time element involved. Perhaps people cut back first on what might have been frivolous or "disposable" spending at such stores, then later the bigger items (new fridge), all the while maintaining purchases of lipstick and razors.