Macy’s is slashing prices in tough economic times. Some shoppers head to Walmart instead

Spring didn’t come fast enough for retailers such as Macy’s and Costco, which typically cater to middle- and high-income shoppers.

Macy’s is the latest retailer to highlight a big downshift in customer demand in recent months. The store just cut its annual profit and sales forecast for the year after sales slowed in the first quarter.

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