Shoppers are making fewer purchases and fewer trips to stores. But when they do check out at the register, they often spend more, revealing the impact of inflation. Many lower-income shoppers are cutting back on non-essentials like home decor and spending big at discount dollar stores.
These are some of the takeaways from a spate of mid-year financial report cards released by America's leading retailers, including Walmart, Macy's and Dollar Tree. They reflect a deep uncertainty that has set into the U.S. economy, with inflation running at the highest rate in decades.
