Macy’s, Kohl’s Earnings are Less Terrible Than Feared

In The Daily Scoop by Lauren Parker, Accessories MagazineLeave a Comment

The nation’s major department store chains said sales fell again in the most recent quarter as they took steps to stabilize their businesses, and analysts warn there is still more work to be done as retailers head into a crucial back-to-school season. The one outlier in the group was Nordstrom, which on Thursday said revenue was up from a year ago, as more customers shopped online. Same-store sales — a measure of sales at locations open more than a year — also rose, about 1.7 percent, exceeding Wall Street’s expectations. Other retailers didn’t fare so well. Macy’s and Kohl’s on Thursday said sales are still falling — albeit less quickly than before — as they fight a mounting battle to get Americans into their stores. Same-store sales were down 2.8 percent at Macy’s and 0.4 percent at Kohl’s. Read more at The Washington Post

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