Unless you're part of the 10%
Jenny Gross reports:
The results highlight a key feature of the U.S. economy: While some shoppers are seeking discounts and cutting back on discretionary purchases, the highest-income consumers are spending relatively freely at more upmarket stores like Bloomingdale’s, which Macy’s owns.
The top 10 percent of households in the United States make up nearly half of all spending, according to Moody's Analytics.
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