Why Kohl’s And Other Major Retail Stocks Are Sliding Right Before The Holidays
by MR Magazine Staff
Nov 20, 2019
A dismal earnings outlook from Kohl’s has spooked investors ahead of the holiday-shopping season, dragging down its stock and weighing on fellow retailers. Kohl’s stock (ticker: KSS) dropped 18% in Tuesday morning trading, bringing its year-to-date decline to 28%. That’s after the department-store chain sharply cut its full-year earnings forecast and said it would miss the FactSet consensus estimate by 24 cents a share. The news has sparked selling in both Macy’s (M) and Nordstrom (JWN), down 11% and 7.2%, respectively, in morning trading. Those companies report their own earnings later this week—Macy’s before the market opens Thursday and Nordstrom after that day’s close. Read more at Barron’s.
