Retailers Paint a Worrying Picture of American Consumers
August 24, 2023
The retail sector suffered a severe blow this week. Macy’s and Kohl’s reported significant sales declines, indicating deeper underlying problems. Stock values plummeted across the board, with major brands witnessing sharp drops. Furthermore, Dick’s Sporting Goods and Foot Locker also slashed their annual profit targets. This cascading effect of poor performance and lowered expectations paints a dim view for the industry’s future.
[ad_2]
Source link
Tags:Abercrombie & Fitch, ANF, C&E Exclusion Filter, C&E Industry News Filter, Clothing Retail, COLUMNS, Content Types, corporate, Corporate/Industrial News, Department Stores, Dick's Sporting Goods, disruptions, DKS, Earnings, Earnings Surprises, Factiva Filters, Financial Performance, FL, Foot Locker, heard on the street, industrial news, JWN, Kohl's, KSS, M, Macy's, Mixed Retailing, Nordstrom, North America, Retail, Retail/Wholesale, Ross Stores, ROST, Sales Figures, share price movement, Share Price Movement/Disruptions, Specialty Retailing, SYND, TJX, United States, wholesale, WSJ-PRO-WSJ.com, wsjfinance, wsjfinance-markets