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Richsplurge versus poverty gap widens in consumer spending
A dual portrait shows rich shoppers fueling high end brands like Nordstrom Ralph Lauren and Lululemon while low income customers retreat to cheaper items at Walmart and Dollar stores. Inflation and fading stimulus sap purchasing power, with Kisha Galvan of Rockford relying on food pantries and canned goods while earnings show a mixed retail outlook.
MENTIONED IN THIS ARTICLE
New York
Kisha Galvan
Walmart
Rockford
Illinois
Nordstrom
Ralph Lauren
Lululemon
Kohl's
Gap
Dollar Tree
Dollar General
Big Lots
Bruce K. Thorn
America
Marshal Cohen
NPD Group Inc
Fed
AAA
Northern Illinois Food Bank
Galvan
Julie Yurko
Federal Reserve Bank of Atlanta
Jeffries
U.S
Michelle Gass
Kohl’s
Tommy Hilfiger
Calvin Klein
Macy’s
Jeff Gennette
Yorko