Holiday spending is expected to come close to last year’s results but could fall short by as much as 2.5 percent during the traditional November and December shopping season, according to Circana’s annual Holiday Purchase Intentions study. The outlook was slightly improved when holiday sales falling in October are included.

One bright spot for consumers was in the month-over-month CPI for Apparel, which declined 0.8 percent from August, most likely owing to the de-stocking and promotional environment at retail.

In the JLL 2023 Holiday Shopping Survey Report consumers are poised to increase spending on entertainment and experiences during the holiday season but at the expense of the amount they would have spent on gift giving. The survey found spending on physical goods to decline 13.8 percent.

Dick’s Sporting Goods followed Macy’s in reducing its planned holiday hiring plans this year versus 2022. The downbeat hiring targets come amid forecasts of lowered seasonal hiring overall this year due to higher labor costs and expectations of softer holiday selling.

Speaking at Wells Fargo’s Sixth Annual Consumer Conference, Academy Sports and Outdoors officials discussed the retail chain’s competitive advantages and how it reworked its expansion strategy while rolling out an aggressive strategy.

Although a few retailers outperformed in the second quarter, big names in the active lifestyle space fought through a challenging  quarter amid promotional pressures, retail theft and the consumer’s continued shift away from discretionary purchases.

The manufacturer of footwear for most major outdoor and athletic brands, reported that in August, net consolidated operating revenue, declined 19.8 percent after posting a 106 percent increase in the prior-year month.