Wednesday, January 04, 2017

Kohl's Is Still a Canary

For those who maintain that the ObozoConomy sucks, Kohl's provides solid evidence.  FWIW, if you look at the history of Kohl's, its same-store-sales numbers are pretty good indicators of the economy during any given period.

...Kohl’s, [...] announced it was slashing its full year forecast, and now sees FY2017 adjusted EPS of $3.60-$3.65, down from $3.80-$4.00 less than two months ago, in the day after the election (ironically). It wasn't just the future: the company revealed that comp sales were also down 2.1% y/y in fiscal months November and December combined. 

As Kohl's CEO Kevin Mansell said, “sales were volatile throughout the holiday season. Strong sales on Black Friday and during the week before Christmas were offset by softness in early November and December."

There's no There there in the ObozoConomy.  Enough to keep the lights on and the furnace running--but not too much more.

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