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Americans Keep Spending But Big Retailers Doubt It’ll Last
- Walmart, Target, Home Depot stressed prudence to investors
- Economic backdrop mixed as companies parse forces on shoppers
Shoppers in Chicago, Illinois.
Photographer: Jamie Kelter Davis/BloombergThis article is for subscribers only.
Americans are still spending. And the country’s biggest retailers are still warning that the party is at risk of fizzling.
Walmart Inc., Target Corp. and Home Depot Inc. all topped Wall Street’s profit estimates in their fiscal second quarters, which ended in late July. In that way, at least, the results reinforced the picture of a resilient consumer after US retail sales last month beat expectations. Strong spending so far this year prompted economists to lift their growth outlook in the latest Bloomberg survey Friday.