Shifting consumer habits are reshaping the retail landscape, as spending patterns reveal unexpected winners and laggards in the marketplace. JPMorgan analyst Matthew R. Boss downgraded Abercrombie & Fitch Company (NYSE:ANF) and Bath & Body Works, Inc. (NYSE:BBWI) following its recent fieldwork and intra-quarter management access.
Consumer Spending Still Moderate: The analyst stated that, based on Chase Credit Card data, U.S. consumer spending rose 3.6% year over year in September, slowing from 4.7% in August and 4.4% in July, but still above the 3.4% six-month average from January through June 2025.
