Gloomy U.S. retail outlook dulls hopes of strong holiday season spending

By Ananya Mariam Rajesh and Aishwarya Venugopal (Reuters) -Latest results and forecasts from retailers ranging from Macy’s to Foot Locker are fresh signs that U.S. consumer spending is under stress heading into the second half of the year. Middle-income Americans are spending less as many struggle to pay off existing card debts amid a surge in cost of living, raising worries for retail sector investors betting on more business during the back-to-school and holiday seasons. “It is going to be a challenging back half,” said Telsey Advisory Group analyst Cristina Fernandez, adding that consumers …

Read More