A tale of two retailers: Target reverses sales slump while Macy's reports another quarterly decline

Grocery aisle deals for cash-strapped customers and an emphasis on affordable but stylish clothes has helped Target reverse a year-long sales slump. But department store chain Macy’s reported another quarterly sales decline on Wednesday and said sales for the fiscal year will be weaker than expected. The difference in the results of 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, groceries and other essentials remain inflated. Target said sales at its stores and digital channels operating for at least 12 months rose 2% in the second quarter. Macy's said its net sales fell nearly 4%.