Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks
Matthias Balk | Picture Alliance | Getty Images Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions to scheduling software, anointing them with billion-dollar valuations before most even turned a profit. It was a frothy era for startups, fueled by a combination of cheap money and pandemic-boosted demand.
Shoppers enter and exit a Dior luxury boutique in Venice, Italy, on Nov. 16, 2025. Michael Nguyen/NurPhoto via Getty Images The retail industry emerged from a choppy first quarter relatively unscathed, but higher than usual tax refunds and an uptick in buy now, pay later use likely helped to buoy spending. As Wall Street looks