Retailers lower outlooks with discretionary spending under pressure
Discretionary apparel retailers proffered less-than-sunny earnings vistas this week, with Macy’s, Nordstrom, T.J. Maxx parent TJX, Victoria’s Secret and Abercrombie & Fitch all lowering their outlooks. Gap completely withdrew its second-half forecast on falling sales, while Urban Outfitters missed estimates.Why it matters: After a resurgence in 2021 — when the apparel industry saw one of…
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