Economic Headwinds Cause Retailers to Slash Outlooks

Dollar General, Macy's and other retailers have lowered profit forecasts due to weak sales and consumer pullback.
Shoppers are spending less on discretionary items due to high inflation and smaller tax refunds.
Retail executives report a decline in demand for higher-margin goods like apparel and home decor.
Discounters like Dollar General are seeing customers trade down to more affordable private brands and $1 items.
Despite a strong labor market, consumers appear to be tightening their purse strings which could signal an impending economic slowdown.