Is retail in or out? Stores come and go and then revive! The jury is still out. However, it’s interesting to see what’s going to happen next. As a nonprofit credit counseling agency, we at ACCC are always interested in news related to finance, economics, and personal money management. Check out a few headlines for the latest in retail news.
Retail News: Which Stores Are Closing?
Recently, there has been a flurry of retail closings around the country. MoneyWise has compiled a list of all the stores that are closing locations. Here are a few stores from the list.
- Bed Bath & Beyond
- Party City
Some of these companies are trying to streamline; others are doing all they can to stay afloat. While this retail news isn’t surprising given the prevalence of Amazon, it might inspire you to evaluate your own personal finances.
Do you need to tweak your budget? Are you trying to get out of debt fast? Are you trying to avoid bankruptcy? Take some time to see how your money is working or not working. Then, you can make a plan to accomplish your goals.
Retail Sales Are Up
Wait a second. Didn’t we just read stores are closing? CNBC reports that retail spending was higher in June than expected. Check out the highlights from the article.
- U.S. retail sales increased more than expected in June.
- The data pointed to strong consumer spending, which could help to blunt some of the hit on the economy from weak business investment.
- The Commerce Department said retail sales rose 0.4% last month as households stepped up purchases of motor vehicles and a variety of other goods
It seems like the businesses and consumers are using all avenues of retail to get what they need, when they want it. Fortunately, this gives us a way to manage spending by finding the best deal. However, all these easy options can also lead to consumer debt. A click of the mouse or a cart full of items on your phone can be dangerous for your bank account.
Finally, no matter what the retail news, your budget should be your guide!
If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.