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Grim picture of recovery in forecasts by retailers

from The New York Times

A lot of Americans are still spending their money only on socks and other essentials, highlighting the disparity between younger and poorer consumers and those who are benefiting from the economic recovery. Major retailers, like Wal-Mart and Kohl's, that cater to budget-conscious customers with lower incomes recently cited sluggish sales as they decreased their annual forecasts. more

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