A mixed picture for retailers as bargain-hunting shoppers pi

A mixed picture for retailers as bargain-hunting shoppers pick their spots

U.S. retailers' earnings over the past month have signaled that customers are spending on discounted apparel, small home projects and beauty products even as they slashed other discretionary purchases with prices still elevated. Retail sales in the U.S. rose more than expected in July with strong wage gains underpinning consumption, but the benefits have not been uniform across the sector. Discount apparel chains TJX Cos and Ross Stores and cosmetics retailer Ulta Beauty have raised their annual expectations, while others including Macy's and Kohl's have taken a more cautious approach.

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