The Consumer Is in a Terrible Place, Kohl’s Results Reveal
If Thursday's quarterly results from Kohl's and Wednesday's earnings from Macy's told investors anything, it's that there's a broad problem with the consumer.
If Thursday's quarterly results from Kohl's (KSS) - Get Report and Wednesday's earnings from Macy's (M) - Get Report told investors anything, it's that there's a broad problem with the consumer. 'This is why the U.S. economy hasn't really managed to pick up the pace - it has been the lack of any sort of upside from the consumer,' said Brenda Kelly, head analyst at London Capital Group, adding that low oil prices haven't translated into higher consumer spending. Kohl's reported a 3.9 percent drop in same store sales, while analysts had expected an increase. Kohl's results follow Macy's disappointing first quarter earnings, released on Wednesday. TheStreet's Scott Gamm reports from Wall Street.
