Macy's and Costco Issue a Cautionary Note on the Economy

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Written By Jennifer Joslyn

⚠️ Macy's and Costco Issue a Cautionary Note on the Economy.

Major retailers Macy's and Costco have raised concerns over changing consumer behavior and a pullback in spending, signaling potential economic challenges for the US. Macy's CEO, Jeff Gennette, noted a greater-than-anticipated decrease in customer demand, with shoppers reallocating spending towards essentials and services. Similarly, Costco's finance chief, Richard Galanti, observed a shift from pricier meats to cheaper alternatives, reflecting a trend seen in previous recessions. These developments highlight a decline in discretionary purchases and a potential impact on retailers, while businesses catering to travel and dining experiences may benefit from increased consumer spending.

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Jennifer Joslyn
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