Defying stubborn department store and mall traffic weakness — and after an abysmal start to the retail year — consumers are loosening their purse strings, just in time for the critical holiday season.
Alibaba's strong financial performance showed no signs of slowing down in its second quarter as the Chinese Internet giant topped analyst estimates and raised its revenue outlook for the year.
Off-price chains, which lure customers away from department stores with prices up to 70% lower than traditional retail, are one of a few bright spots in a seemingly bleak retail environment.
