Kohl's reinvented itself to adapt to sweeping changes in the retail industry. But the company still can't dodge intense pressures on department stores from online rivals, big box retailers and discount chains.
Sales at Kohl's stores open at least a year dropped 3.4% during the first quarter of 2019 — the company's first drop in almost two years — it reported Tuesday. Kohl's also trimmed its guidance, and now expects sales this year to break even or decline. Stores live in fear of Amazon. The Kohl's CEO embraced itThe results surprised investors who bought into Kohl's approach in recent years.
5% during its first quarter compared with a year ago. Macy's sales inched up 0.7% last quarter, but it was led by growth in its discount Backstage stores.Walmart and Target have both said recently that they are gaining market share in their home and clothing divisions. Target, for example, has launched new home decor brands, which helped lift its home business last year to its fastest sales growth in more than a decade.
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