The Globe and Mail reports in its Thursday edition that the latest results from retailers ranging from Macy's to Foot Locker are showing fresh signs of U.S. consumer spending remaining under stress heading into the second half of the year. A Reuters dispatch to The Globe says that Americans are spending less as many struggle to pay off existing card debts amid a surge in cost of living, raising worries for retail-sector investors betting on more business during the back-to-school and holiday seasons. "It is going to be a challenging back half," said Telsey Advisory Group analyst Cristina Fernandez, adding that consumers are looking for value and spending on buying the things they need. Foot Locker joined rival Dick's Sporting Goods on Wednesday to cut annual profit forecast, sending the shares of sportswear retailers tumbling. Foot Locker and Macy's could see a bigger hit to their sales as they cater to lower- to middle-income consumers, said Thomas Hayes at Great Hill Capital, while the winners would include Walmart and the dollar stores that benefit from consumers trading down. Walmart last week raised its full-year forecasts and beat second-quarter results, benefiting from strong demand for its low-priced groceries.