Reuters/Mohammad Khursheed
- Macy's said US consumers have less cash to spend, and are choosing experiences over products.
- Lowe's said homeowners are doing well, but fewer are taking on projects themselves.
- Dick's meanwhile reported an unexpected uptick in inventory shrink from retail theft.
American households continue to dial back spending on non-essential products as their cash reserves dwindle and credit card balances rise.
The shift presents a challenge to retailers that sell discretionary merchandise like apparel and home goods.