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Wealthy shoppers are splurging at Macy's. Low-income shoppers are pulling back at Walmart

Summary by Ground News
Affluent shoppers are splurging on new outfits at Macy's, Nordstrom and other high-end outlets. Lower-income customers are pulling back on discretionary items, leading retailers say. Macy's raised its guidance for the year, pushing its stock up 12% in early trading Thursday.
1 month ago·El Paso, United States

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Wealthy shoppers are splurging at Macy's. Low-income shoppers are pulling back at Walmart

Decades-high inflation is leading to a split in American consumers' behavior.

1 month ago·Atlanta, United States
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KVIA

Wealthy shoppers are splurging at Macy's. Low-income shoppers are pulling back at Walmart

By Nathaniel Meyersohn, CNN BusinessDecades-high inflation is leading to a split in American consumers’ behavior.Affluent shoppers are splurging on new outfits at Macy’s, Nordstrom and other high-end outlets, while lower-income customers are pulling back on discretionary items, leading retailers say.Macy’s said Thursday that comparable sales at stores open for at least one year grew 12.4% during its latest quarter compared with the same stretch …

1 month ago
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