Department stores aren't dead yet: Macy's and Kohl's stocks rebound
Briefly

Department stores aren't dead yet: Macy's and Kohl's stocks rebound
"State of play: At Macy's, the company's strategy of closing unprofitable stores and focusing on its best performers is starting to pay off. After shuttering 64 namesake stores this year, the department-store chain is showing traction in its "A Bold New Chapter" turnaround plan, despite pressure from tariffs. The company's Bloomingdale's division is also performing well, posting its fourth straight quarter of comp sales growth. And its beauty retail brand Bluemercury delivered its 18th straight quarter of comp sales gains."
"By the numbers: Macy's stock soared 20% Wednesday after the retailer delivered its strongest comparable-store sales growth in 12 quarters, fueled by its Bloomingdale's and Bluemercury brands and remodeled Macy's stores. Kohl's shares are up 39% over the last month after the company delivered a huge earnings beat and improved sales outlook. Zoom in: After 14 straight quarters of negative comp sales, Kohl's may return to growth as early as next year, according to TD Cowen retail analyst Oliver Chen."
Macy's and Kohl's are showing early signs of recovery after strategic shifts focused on core stores. Macy's closed unprofitable locations, remodeled top stores, and emphasized luxury through Bloomingdale's and Bluemercury, producing its strongest comparable-store sales growth in 12 quarters and a 20% stock jump. Kohl's expanded brands eligible for discounts, reversed coupon exclusions, reported a large earnings beat and an improved outlook, driving a 39% share rise over the past month. Kohl's posted jewelry and women's apparel gains, back-to-school momentum, and plans to close 27 stores, with analysts forecasting comp-sales recovery next year.
Read at Axios
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