Walmart & Target Thrive While Macy’s, Kohl’s Crash on Weak Holiday Sales

Retailers are suffering in a very general way, with Sears fighting liquidation efforts and most stores posting disappointing figures. Shares in Macy’s (M) are down roughly 16% over the 24-hour period on the Big Board. Post-holiday sales figures of today disappoint everyone. It began the 24-hour period at over $31, but by the time of writing it’s down to just under $26. Back in August, the company’s share price was almost up to $42 per share. Macy’s Pitiful Christmas Story Although the company posted gains across most categories, investors were expecting a lot more from the renewed growth strategy at Macy’s corporate. Sales were up less than 2%. Online retailers saw growth in the double digits. Macy’s CEO Jeff Gennette said in its November/December 2018 sales report: Looking back at 2018, we met our goal of returning the company to growth. Our revised guidance is above the expectations we set…

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