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Business Consensus Metrix Kohl Corp month Sruthi Ramakrishnan 

Macy’s, Kohl’s sales declines raise turnaround concerns

August 10, 2017 By Sruthi Ramakrishnan (Reuters) – Shares of department store chains Macy’s Inc and Kohl’s Corp tumbled on Thursday as the companies reported a drop in quarterly same-store sales, stoking concerns that their turnaround may still be a long way off. While the declines in same-store sales were not as bad as feared, gross margins at both the companies slipped as they continued to rely on discounts and promotions to woo customers back to their stores. Macy’s gross margins fell to 40.3 percent from 40.9 percent a year…

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Target optimistic on full-year forecast after profit beat

May 17, 2017 By Sruthi Ramakrishnan and Siddharth Cavale (Reuters) – Target Corp reported higher-than-expected quarterly profit and sales and set an optimistic tone for the year, saying its full-year profit could come in at the higher end of its forecast. Target’s shares rose 3 percent on Wednesday as the outlook allayed some investor concerns following the company’s warning just three months ago that its full-year targets were too high. The company has been trying to turn around its business for several years and in February vowed to aggressively promote…

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Target’s profit tops as turnaround efforts pay off, shares jump

May 17, 2017 (Reuters) – Target Corp reported higher-than-expected quarterly profit and sales as some of its turnaround initiatives, including revamping stores and increased promotions, paid off. The company’s shares rose 8.4 percent in premarket trading on Wednesday, bringing some cheer to the retail sector, which has been hurt by weak performances from department store chains last week. Target said in February it would undertake “aggressive promotional activities”, revamp stores and invest in new brands and technology to combat competition from Wal-Mart Stores Inc and Inc . “We have…

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Nordstrom’s comparable sales miss deepens department-store gloom

May 11, 2017 By Sruthi Ramakrishnan (Reuters) – Nordstrom Inc on Thursday became the latest department store operator after Macy’s and Kohl’s to report weaker-than-expected quarterly same-store sales, underscoring the industry’s struggle to attract customers amid a slump in demand for apparel and a shift to shopping online. Nordstrom’s shares, which closed down 7.6 percent at $46.21 in regular trading, fell nearly 4 percent after the bell on Thursday. Department stores are struggling with declining mall traffic as well as tough competition from online retailers and off-price stores. They have…

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Macy’s weak quarterly results hit department store shares

May 11, 2017 (Reuters) – U.S. department store operator Macy’s Inc reported a much bigger-than-expected drop in quarterly profit and sales, continuing its uphill struggle to attract customers amid a slump in demand for apparel and the shift toward shopping online. Macy’s shares fell as much as 10 percent to $26.40 on Thursday to levels last seen in 2011, and pulled down shares of rivals across the department store industry. Sales at Macy’s stores open at least a year, including sales in departments licensed to third parties, fell 4.6 percent…

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Target shares dive on earnings outlook, price cut plans

February 28, 2017 By Nandita Bose and Richa Naidu NEW YORK (Reuters) – Target Corp said on Tuesday it will rely more on low prices to compete with rivals like Wal-Mart and Amazon, admitted many of its stores needed freshening up, and told Wall Street its sales and profit estimates for 2017 are too high. Shares of the retailer plunged to 2-1/2-year lows in heavy trading. Many of its rivals fell, too, including deep discount chains that will now face tougher competition on prices. For investors, the news was a…

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