Retailers Paint a Worrying Picture of American Consumers

The retail sector suffered a severe blow this week. Macy’s and Kohl’s reported significant sales declines, indicating deeper underlying problems. Stock values plummeted across the board, with major brands witnessing sharp drops. Furthermore, Dick’s Sporting Goods and Foot Locker also slashed their annual profit targets. This cascading effect of poor performance and lowered expectations paints a dim view for the industry’s future.