Shoppers, worried about job security and finding fewer options among the sales bins, remained tight-fisted in July, resulting in sluggish sales for many merchants and raising concern about the back-to-school shopping season’s health.
As merchants reported their sales figures Thursday, mall-based chains continue to be hit hardest as consumers focus on necessities. Among the disappointments were Cincinnati-based Macy’s Inc. and teen retailers Wet Seal Inc. and New Albany, Ohio-based Abercrombie & Fitch Co.
