A couple of decades ago, one could gauge the economy by watching Kohl's Department Stores' numbers. Since then, the management has turned over a few times, so..........who knows?
But if they're still a reliable canary in the coal mine, look out below!!
Kohl's shares plummeted more than 25% Thursday after the company posted a surprise loss per share, coming in well below Wall Street’s expectations for a slight profit....
...Kohl’s reported a net loss of $27 million, or a loss of 24 cents per share, compared with a year-ago profit of $14 million, or 13 cents per share.
Net sales decreased 5.3% to $3.18 billion compared with the year prior, with [same-store] sales down 4.4%....
Generally, you find Kohl's stores in middle- to upper-middle class areas. That kind of revenue dump could be a serious confirmation of what the fast-food/casual dining people already know: the Middle Class ain't spending no more.
The End.
2 comments:
Well we are are buying ammo….,
Maybe they should sell ammo
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