Tiffany’s managed to deliver sparkling earnings, while other retailers blamed winter for their weak results. Keith Bliss of Cuttone & Co. said he is worried about investors that are beginning to run up credit cards again. MasterCard says credit card charges are rising. Bliss points out that rising taxes and stagnant wages are putting pressure on consumers’ wallets. Bliss also notes that not many retailers said that since spring has arrived, the shoppers have returned. This weak guidance causes him to think that investors might want to avoid consumer discretionary stocks.
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