There’s Only the Higher-Income Consumer Now

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The hopes and dreams of consumer-sensitive companies are being carried on the back of the higher-income consumer, which is the only group that is still spending. 

From McDonald’s to Dollar General to Ollie's Bargain Outlets to Amex, companies are noting that the higher-income consumer is trading down while the lower-income consumer is shying away from spending altogether. It’s only expected to get worse for the latter group because of higher ...

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