Macy’s CEO Points to E-Shaped Economy, Signaling Consumer Shift

A new letter is being used to describe the US economy, a tiny tweak that could have big implications for the country’s largest retailers.

For the last few years, retail executives have talked about how they’re navigating a K-shaped economy. That describes how the share of spending in the US keeps diverging, with those who are wealthy spending more and those who are not, spending less.