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Lower income shoppers still feeling pinched, U.S. retailers say

Cooler than usual weather and belt-tightening by shoppers still struggling with higher payroll taxes and stubborn unemployment dampened sales last quarter at chains from Macy's Inc to Wal-Mart Stores Inc .Wal-Mart reported a 1.4 percent drop in sales at Walmart U.S. stores open at least a year, and gave a profit forecast for the second quarter that missed Wall Street estimates. The world's largest retailer expects same-store sales at its namesake U.S. discount chain to be up 2 percent at best in the current quarter.Kohl's Corp , a department store chain that caters to lower-to-middle income families, posted a 1.9 percent decline in same-store sales. Last week, J.C. Penney Co Inc , dealing with some self-inflicted problems, said its same-store sales fell 16.6 percent. Dillard's Inc reported a 1 percent increase."We are seeing some weakness amongst our more budget-conscious, what we call deal-hunting, customers," Macy's Chief Financial Officer Karen Hoguet told analysts this week.Macy's ...

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