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A revenue warning from Macy’s for the remainder of the year pushed its shares down 5.5 per cent on Wednesday, and stocks of rival department store retailers also lost ground.
A revenue warning from Macy’s for the remainder of the year pushed its shares down 5.5 per cent on Wednesday, and stocks of rival department store retailers also lost ground.
(DAVID MCNEW/)

Where did all the shoppers go?

U.S. consumers are showing an unexpected reluctance to open their wallets, raising doubts about the prospect for vigorous growth in the economy during the second half of the year.

The Commerce Department reported Wednesday that retail and food-service sales stalled in July, as shoppers stayed away from department stores and car lots.