U.S. retailers adjust as consumers trim spending

02/22/2013 | Wall Street Journal, The

Wal-Mart, Burger King, Kraft Foods and other U.S. companies are pulling back on sales forecasts for the year amid evidence that the higher payroll tax that took effect Jan. 1 has shoppers tightening their belts. Some 45.7% of U.S. consumers are cutting back on spending at stores and restaurants as a result of the higher payroll tax, according to a survey released this week by NRF.

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