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Friday 7 August 2020

The Daily Money: Are dress clothes gone for good?

04:51

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usatoday.com

The Daily Money
 
Friday, August 7

It's Fri-yay, Daily Money readers! Brett Molina here and ready to start the weekend. But first, your Friday Money and Tech headlines.

Our embrace of sweatpants and other casual wear is bad news for retailers specializing in business wear. As more companies open up to remote work for employees, is it time to bid farewell to dress clothes?

Americans are becoming more pessimistic about how the economy will fare as we navigate COVID-19. According to a new survey from Harris Poll:

About 82% of Americans believe the expiring $600 unemployment bonus will hurt the economy.
More than two-thirds of Americans think economic growth will be a lot worse in the months to come.

Finally, are you 50 years old and have no retirement savings? There's still time to act.

Scroll down for more headlines, and have a great weekend.

Brett Molina, Money/Tech editor

The Men's Wearhouse flagship store in Manhattan. Men's Wearhouse is trying to court younger customers with the acquisition of American suit company Joseph Abboud.
Are dress clothes gone for good?
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