Tariffs Deepen Retail Divide As Low-Income Shoppers Cut Back, Bank Of America Says
Bank of America Securities reported that spending during the back-to-school season in August showed notable strength across most retail categories, with apparel standing out.The firm based its findings on aggregated debit and credit card data, pointing to resilience in consumer activity despite ongoing inflationary concerns.According to the note, total retail sales excluding autos rose 1.9% year over year in August, compared with 1.1% in July.Also Read: Kroger Lifts Profit Outlook On Business Momentum, Marg ...