The U.S. grocery industry and seafood suppliers continued to struggle with economic challenges, as Walmart is reportedly cutting hundreds of store-support corporate employees and Kroger consolidates its Texas operations.

Consumers haven't yet felt sticker price shock for footwear purchases, but some shoe brands and retail experts say increases are on the way.

“Companies are struggling, but the tariffs did not put them into bankruptcy,” said Stephanie Roth, chief economist at Wolfe Research. “Until the labor market starts to crack in a real negative way, there’s no great reason to believe that consumers should pull back or that the economy is weakening sufficiently.”

After an earlier pullback, consumers picked up their spending in June showing resilience despite anxiety high over tariffs and the U.S. economy

Consumer sentiment improved in July as inflation expectations subsided, showing consumers may be less worried about tariffs amid positive economic data.

According to the NRF, consumers will spend approximately $39.4 billion on school supplies for K-12 students. For college students, they predict $88.8 billion worth of spending. Stationery and school supply prices have risen 30 percent since 2021, according to Deloitte's 2025 back-to-school survey.

But, for now at least, a steady if unspectacular job market and a stock market hitting new highs appears to be enough to keep consumers spending. Given that consumer spending accounts for more than two-thirds of the economy’s overall output, that is a good omen.

M (3M) on Friday reduced its estimated net impact from U.S. President Donald Trump’s tariff policies on full-year 2025 profit to $0.10, helping it raise its earnings per share forecast for the year following the United States and China reaching a trade deal.

While economic fundamentals appear solid at the halfway point of the year, uncertainty is pervasive. This is according to Jack Kleinhenz, chief economist at National Retail Federation (NRF) and author of NRF's Monthly Economic Review, July edition.