As you know I watch Wal-Mart more than I shop there for a lot of reasons.
The retail giant’s very low sales figures for April may possibly be because of rising gas prices.
Or shoppers may not like the merchandise, which I personally think could be the problem with Macy’s. (I don’t like Macy’s either).
Whatever the reason, people in the lower economic brackets are not spending as much. That could be because they don’t have the extra cash. This less than good news puts yet another strain on those households which are already at the breaking point dealing with [tag-ice]ARM’s[/tag-ice] and rising [tag-tec]interest rates[/tag-tec].