By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
Consumers are spending, but Wall Street and businesses expect a tighter squeeze ahead
preview.jpg
File - Signage hangs from a Macy's store in San Francisco, Tuesday, April 18, 2023. Macy's, Target and Dollar General are warning investors their sales will suffer during the remainder of 2023 as consumers shift spending to essentials. - photo by AP Photo/Jeff Chiu, File
NEW YORK (AP) — Investors and a wide range of retailers are taking a dim view of the remainder of 2023 and expect consumers to buckle under pressure from inflation. Macy's, Target and Dollar General are warning investors about weaker sales through the rest of the year as consumers shift their spending to essentials. Investors themselves have sold off shares of key retailers, with stock prices for many companies down substantially in a year when the broader market is making solid gains.