Katz came to the helm during 2010 when the department store was struggling to find its sweet spot with budget conscious shoppers.
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Shoppers are increasing turning to the budget sector but even discount stores are running into trouble, analysts said.
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While many retailers try to lure budget-conscious consumers with price cuts, Stetson and others are betting that shoppers remain willing to shell out kingly sums for products with newer technology and fresher styles, from forks to sneakers.
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If shoppers are really serious about spending less, they just might need to create and stick to a budget.
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