Thursday, May 30, 2024

Is Kohl's Still the Canary??

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 knowthe Middle Class ain't spending no more.

The End. 

2 comments:

  1. Well we are are buying ammo….,

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    Replies
    1. Maybe they should sell ammo

      Delete