Hints and tips:
...But it is department stores, rather than lenders, that may have most to lose as the credit cycle sours. The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...Monday’s stock-market price action seemed hopeful about that idea, with department stores Kohl’s and Nordstrom posting gains of more than 7 per cent in the absence of other news....
...In the past week, several US companies including discount retailer Kohl’s, Foot Locker, Dick’s Sporting Goods, Home Depot, Walmart and Target have raised the issue of or fielded analysts’ questions on shrink...
...Department store Kohl's, with no growth, high debt, falling margins, little free cash flow and a stock down 60 per cent in 12 months, is clearly in desperate need of a turnround....
...Retail sales for clothing and accessory stores have remained largely flat for the past year, according to Census Bureau data....
...The firm has taken on companies such as health insurance group Humana and department store operator Kohl’s....
...Pressure on retailers hit by the pandemic was highlighted by earnings on Tuesday from department store chain Kohl’s, where net sales dropped 13 per cent year on year to $3.8bn....
...Kohl’s, too, said it would temporarily furlough most store and distribution centre workers, as well as some corporate office staff. About 85,000 of its 122,000 employees would be affected....
...Kohl’s said it acted for similar reasons, with about 70 per cent of its stores currently affected by government mandates....
...Department store chain Kohl’s on Tuesday reported a 23 per cent slide in comparable sales....
...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...
...At the same time, Best Buy, TJX and Kohl’s are among 126 discretionary consumer companies to draw a total $86bn from credit lines, according to Autonomous Research....
...Kohl’s pushback strategy is more questionable. It has opened smaller shops. In a bid to drive foot traffic, its 1,100 stores double as Amazon return centres....
...Department store chain Kohl’s meanwhile reported a 44 per cent decline in first-quarter net sales....
...Kohl’s closed its department stores after the outbreak and lost $540m in the three months to the start of May, yet the company said internet sales had accelerated in recent weeks and Michelle Gass, chief...
...in Kohl’s stores....
...Macy’s, meanwhile, set out plans to shut almost 30 stores and disclosed a sales decline, although it was less steep than analysts feared....
...US department store Kohl’s has a plan to counter competition from Amazon, which has stolen a march on the retail chain and its rivals....
...Kohl’s also cut its financial guidance this week, triggering a heavy sell-off in Macy’s stock....
...Ms Gass added that Kohl’s, which has a partnership with Amazon to allow customers to return items purchased from the ecommerce giant at its stores, added that Kohl’s had “adjustments under way to get us...
...drew $1bn as they closed stores....
...It sent shares in both Nordstrom and Kohl’s, which report results next week, down about 10 per cent. JCPenney, expected to post another quarterly loss on Thursday, was down 8 per cent....
...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...
...They came a day after three of the largest department store chains, Nordstrom, Kohl’s and JC Penney, reported sliding sales that sent their share prices tumbling. Other results have been stronger....
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