1. Stores & Formats

US Department Stores See Higher Credit Delinquencies Amid Strained Spending

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Several major U.S. department stores, including Macy’s and Nordstrom, are witnessing an increase in credit card delinquencies, which poses a risk to their revenues as consumers scale back discretionary spending before the critical holiday shopping season. Macy’s reported a decline of $84 million in credit card revenues for the second quarter due to rising delinquencies,…

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