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Macy’s, Best Buy Sales Decline, Reflecting Shopper Pullback

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wsj.com

Consumers pulled back on purchases of apparel and electronics in recent months while continuing to spend on groceries and other necessities, according to some of the largest U.S.

retailers. Macy’s Inc. and Best Buy Inc. said they expect sales to fall this year, after declining in 2022, as stubbornly high levels of inflation and other economic issues weigh on shoppers.

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