As consumers worry about jobs, retailers fret about back-to-school season
NEW YORK - Shoppers — worried about job security and finding fewer options among the sales bins — remained tight-fisted in July, resulting in sluggish sales for many merchants and raising concern about the back-to-school shopping season's health.
As merchants reported their sales figures Thursday, mall-based chains continue to be hit hardest as consumers focus on necessities. Among the big disappointments were Stage Stores Inc. and teen retailer Wet Seal Inc. Warehouse club operator Costco Wholesale Corp.'s results also came in slightly below analysts' estimates.
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