Retailers Face Uncertain Holiday Season Amid Consumer Strain

Retailers like Ralph Lauren and T.J. Maxx have raised year-end forecasts due to unexpectedly strong fall sales, but economists warn that U.S. consumer spending may slow next year as many Americans focus on sales, avoid big purchases, and accrue more debt. While lower-income consumers are particularly strained, wealthier households are also pulling back on major purchases due to high interest rates and economic uncertainty. The holiday season might be a 'last hurrah' for consumer spending before confidence fades.