Target reverses sales slump while Macy’s reports another quarterly decline WSOC TV [Video]

NEW YORK — (AP) — Grocery aisle deals and an emphasis on affordable but stylish clothes helped Target reverse a year-long sales slump, while Macy’s on Wednesday reported another quarterly decline and said sales for the fiscal year will be weaker than expected due to a “more discriminating consumer” outlook.

The difference in fiscal second-quarter results reported by the two retailers underscores the financial circumstances of U.S. shoppers: Consumers are still spending, but they’re being selective about where they make purchases when the costs of housing, food and other essentials remain inflated. When it comes to clothing, for example, they’re often choosing store label brands, which are typically less expensive than national brands.

“You have to believe that everybody is being a little more cautious as they kind of watch what’s going on in the macro environment and are just being more judicious in the purchases they make,” Macy’s CEO Tony Spring told analysts Wednesday.

Target’s shares …