Spending lower than expected at U.S. stores

American shoppers continued to spend conservatively in September, Reuters reports.

Read: U.S. holiday spending expected to jump

L Brands, which owns Victoria’s Secret, says its sales at stores open at least a year rose 1% in September, missing investor estimates of a 2%. The company had to offer customers more sales than expected to shore up sales.

Clothes company American Apparel reports its same-store sales went down last month. Stores that target younger shoppers have been going through difficulties.

Deals did spur shoppers to spend, says Reuters.

Costco Wholesale reported better-than-expected U.S. same-store sales.

Read more here.

Also read:

Stick with consumer staples

Back-to-school spending climbs 4%

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.