AdvtAdvtJoin the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. "In the more recent macro environment, consumer demand has been even more uneven and difficult to predict," Best Buy CEO Corie Barry said.The S&P 500 consumer discretionary sector was down about 1% on Tuesday, while so far in 2023 the index had risen more than 31%.U.S. holiday sales are expected to rise at its slowest pace in five years, according to data from the National Retail Federation , as Americans are likely to pull back on holiday shopping Last week, industry bellwether Walmart warned of cautious consumer spending as the holiday shopping season gets underway. "Still, some investors expect holiday sales starting Black Friday to hold "some positive surprises. "With so many retailers warning about falling demand for discretionary goods, investors may be skeptical about American Eagle's and Abercrombie's ability to maintain their upward trajectories," said Rachel Wolff , senior analyst at Insider Intelligence.

Source: Economic Times November 22, 2023 08:34 UTC