Last week it was reported that Kohl’s Corp. posted disappointing sales growth in the first quarter, raising concerns that a strategic plan unveiled last year to jump start the struggling retailer was faltering.
The report precipitated a steep sell-off in Kohl’s shares, which suffered their biggest single-day decline ever, erasing some $2 billion in market value. Kohl’s stock finished at $64.62, down $9.89, or 13.3%, on the New York Stock Exchange.
This was a drop mirrored in many large companies over the past reporting periods such as Macy’s and J.C. Penny- similar department style stores.
This begs the question- what is it about these companies that is failing them in sales? Is it they’re lack of attunement with customers? Are these companies so big that they are losing sight of what the individual customer wants and needs from a department store?
BoweryJE22
I never shop at any of these stores which goes to show the validity of this post.