Department Stores Awash in Red

Department store shares are awash in red this afternoon, as even the best performing retailer in the sector could see some damp same-store sales results in June.

Analysts say Kohl's(KSS Quote), which has been a steady winner during the recession due to its wallet-friendly prices, may post disappointing monthly sales as a result of the month's unusually soggy weather.

Daniel Binder analyst at Jefferies & Co. said in a note that Kohl's has managed to keep pace during the economic downturn by rolling out new brands, cutting costs, tightening inventory and creating effective promotions. ...