Major retail CEOs including leaders at Kohl's, Dollar General, Home Depot, Best Buy, and Walmart have reported that consumers remain anxious and value-focused as tariffs begin to impact costs and purchasing patterns. While some companies experienced strong quarters, like Best Buy's second quarter, there is widespread caution about raising full-year guidance due to tariff uncertainties and increasing costs. Executives noted that shoppers are increasingly deal-driven and prioritizing value over brand loyalty, with economic uncertainty causing delays in large projects and major purchases. This signals potential subdued consumer demand in coming quarters, impacting retail revenues and inventory management strategies.