Tuesday, August 13, 2019

Analysts expect a less-than-merry holiday season for department stores

NREI
Christmas is more than four months away, but analysts at Credit Suisse already have a warning for investors in department stores: don’t be surprised if they start trimming their outlooks next week.

There’s “mounting evidence” that stores have “significantly lowered their inventory receipt plans ahead of holiday 2019,” analysts led by Michael Binetti wrote in an Aug. 8 note. “Expect a wave of lowered guidance” next week as companies including Macy’s Inc., Dillard’s Inc. and J.C. Penney Co. report results.. . . more