This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Black Friday Couldn't Save These 4 Retailers

Kohl's

Kohl's (KSS - Get Report) was one of the biggest surprises of the month, reporting a 6.2% plunge in same-store sales compared with consensus estimates of a 2% increase.

This came despite compelling promotions, its midnight Black Friday opening and the highly successful launch of the new Jennifer Lopez and Marc Anthony lines.

"November sales were disappointing. We were encouraged by our improved performance in both stores and e-commerce over the Thanksgiving weekend," said CEO Kevin Mansell. "A majority of our planned incremental marketing investment is in December and we expect to be able to benefit as customers look for value as they complete their holiday shopping."

"While unseasonably warm weather likely had a negative impact on sales, we believe that the moderate income consumers, Kohl's target, is feeling particularly constrained and management is challenged to motivate her to shop and spend," Jaffe wrote in a note.

It also appears that sales are being funneled to rival Macy's (M - Get Report), which reported a 4.8% jump in same-store sales, better than the 3.6% increase Wall Street expected.

Macy's also opened at midnight, but saw more success.

"A strong Black Friday punctuated our very positive sales performance throughout November at both Macy's and Bloomingdale's. This was the first year that Macy's stores opened at 12 midnight on Black Friday, which particularly attracted millennial customers who gravitate to the fashion, newness and value in our merchandise assortments," said CEO Terry J. Lundgren.

Shares of Kohl's fell 3.6% to $50.20 in morning trading Thursday.

- Reported by Jeanine Poggi in New York.

Follow TheStreet.com on Twitter and become a fan on Facebook.
4 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
GPS $36.48 0.00%
JCP $8.24 0.00%
KSS $61.32 0.00%
M $69.06 0.00%
TGT $81.85 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs