posted at 07:50
Author Name: Ashley Lutz
Cash-Strapped Americans Hurt Retail
"Low-end and middle-income retailers are still suffering because people are buying so close to need," Brian Yarbrough, consumer analyst at Edward Jones, told Business Insider. "In the past, retailers could depend on people spending a little more." The Federal Reserve Board reports that all groups of consumers had a lower mean income in 2013 than they did in 2007. "Today's consumer is waking up when its 35 degrees and realizing it's time to buy long sleeves or a winter coat," Yarbrough said. "The consumer has not bounced back with the confidence that we were all looking for," Lundgren said at the Goldman Sachs Annual Retail Conference, weeks after the company reported sluggish second-quarter sales. "The performance I think we had in the second quarter, and we expect to have in the second half, is going to be a continuation of what we've been able to do over the last several years - and that is to capture market share and get the most out of the consumers that are in our stores," he said. Kim Bhasin / Business InsiderMacy's CEO Terry Lundgren has said that consumers aren't recovering. "The low-end consumer has not benefited in this recovery at all; in fact I think have slipped further back," Levine said.

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