American shoppers boosted spending at department stores and discount chains, showing resilience amid inflationary pressures that have weighed on consumers and dented results at many big retail chains.
Macy’s and Dollar Tree reported strong sales increases in their most recent quarters. Those results came as shoppers spent more on clothing for work and special occasions, while turning to discount chains for necessities to offset rising costs for food and fuel. Another budget chain, Dollar General posted flat sales but raised its outlook for the full year, saying cash-strapped shoppers are gravitating to its stores more frequently.
