Holiday sales weren't too hot at two of America's largest retailers.
Both Kohl's and Macy's reported lower sales during November and December 2016 than the year before. Both retailers announced sales declines of 2.1% from the same two months in 2015.
Additionally, both Kohl's and Macy's said that sales at owned and operated stores were down by 2.7% this holiday season.
"Sales were volatile throughout the holiday season. Strong sales on Black Friday and during the week before Christmas were offset by softness in early November and December," Kohl's CEO Kevin Mansell said in a press release.
Macy's CEO Terry Lundgren cited similar patterns for the sales disappointment.
"While our sales trend is consistent with the lower end of our guidance, we had anticipated sales would be stronger," Lundgren said in a release. "We believe that our performance during the holiday season reflects the broader challenges facing much of the retail industry."
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6 comments:
This trend was predicted 15 years ago. I've been ordering from catalogs and more importantly the internet for many years. Who wants to go to a mall or store when the weather is bad and take a chance on getting accosted by thugs...
That's correct
Nowadays mall are just places for thugs to hang out at, that's all
The "broader changes" are that nobody has any money to spend except the welfare and government dependents.
Sales may be down but I'll bet profits are up.
The real challenge is that nobody needs anything.
The entire concept of real estate as it relates to retail is a dying model. Walmart will emerge as the dominant survivor but most of the rest will wither and die in the face of amazon.
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