Wednesday, May 22, 2019

US department store slowdown intensifies retail concerns

Boston Business Journal
Two of the biggest US department stores, Kohl’s and JC Penney, intensified concerns over the health of bricks and mortar retailing on Tuesday as falling sales sent their share prices tumbling.

Quarterly revenues fell short of forecasts at both companies, which between them operate almost 2,000 stores and employ about 225,000 people. By midday in New York, Kohl’s stock was down 11 per cent and JC Penney 9 per cent.. . . more