Hints and tips:
...The three joined from the S&P 400 benchmark of midsized companies and will switch places with tax software group H&R Block, Coty, a beauty company, and Kohls, a department store, which are dropping to the...
...Macy’s balance sheet has long been in better shape than more distressed rivals, although the department store chain lost its investment grade rating from S&P Global last month and was cut further into junk...
...Department store chain Kohl’s meanwhile reported a 44 per cent decline in first-quarter net sales....
...The latest figures show how many mall-based clothing outlets and department stores are struggling even though overall consumer spending remains robust....
...An index of large-cap US department stores has lost 35 per cent of its value this year, making it the worst-performing subsector in the S&P 500 index....
...Macy’s has issued another profit warning after it was forced to offer hefty discounts to shed merchandise, intensifying concerns on Wall Street over how department stores are coping in the age of ecommerce...
...Shares in several of the sector’s biggest names, including electronics chain Best Buy, clothing retailer Gap and department store Kohl’s, closed down more than 7 per cent after the president tweeted that...
...Shares in Macy’s dropped 17.7 per cent, their biggest one-day sell-off on record, after the department store group cut its sales and earnings guidance less than two months after upgrading it....
...The department store company Kohl’s also disappointed, even though strength in its clothing business helped same-store sales rise for a fifth consecutive quarter, and its gross margin increased 25bp to 37...
...Comparable sales growth at department store chain Kohl’s slowed from 6.9 per cent a year ago to just 1.2 per cent....
...Department store operators Macy’s, Nordstrom and Kohl’s were among the top gainers, rising 3.1 per cent, 4.4 per cent and 3.6 per cent respectively, while smaller rival JC Penney surged 11.3 per cent....
...Department stores, the anchors of American shopping malls, have been particularly brutalised by the shift towards ecommerce....
...The department store sub-index of the S&P 500 has fallen by nearly a third this year, while Credit Suisse estimates more than 140m sq ft of retail will be shut this year....
...Kohl’s and Macy’s, two big US department store chains, were the best performers on Tuesday, up 6 per cent and 4.6 per cent respectively to extend their December gains to 18.9 per cent and 12.8 per cent....
...Meanwhile, department store Macy’s led the S&P 500, advancing as much as 4.3 per cent to $21.57, as chief executive Jeff Genette told CNBC that he sees stronger Black Friday this year than the last and with...
...store chain Kohl’s....
...Macy’s and Kohl’s were the biggest decliners on the S&P 500 for the day and the results weighed on the broader S&P 500 retailing industry group, sending it 2.4 per cent lower....
...Department store Macy’s was also a notable gainer, advancing as much as 4.3 per cent before settling for a 2.1 per cent rise on the day to $21.07, as chief executive Jeff Gennette told CNBC that he expected...
...US department stores are expected to report shrinking revenues and profits for the second quarter....
...Shares in the embattled department store operator plunged nearly 25 after it issued a surprise profit warning....
...Shares in the department store were down about 7 per cent from the start of the year through to the end of August....
...S&P is forecasting double-digit declines in first-quarter earnings for department store operators and big box retailers....
...The disappointment ignited a sell-off that sent the market value of the S&P department stores index sliding from $27.8bn on Wednesday to $23.2bn on Friday, marking the biggest two-day wipeout in dollar terms...
...Investors have been fixated on a string of sales misses from the biggest US department stores, like Macy’s and Kohl’s....
...Macy’s and Kohl’s kicked off a disappointing quarter for department stores when they reported results last week....
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