Turnarounds uncertain at Macy's, Kohl's, Nordstrom as department stores enter the holiday season
Published On Nov 29, 2024, 8:30 AM
As the holiday season approaches, department stores like Macy's, Kohl's, and Nordstrom face significant challenges. Sales projections indicate continued declines, with Macy's seeing a 1.3% drop in same-store sales, while Kohl's reported an 8.8% decline. Despite Nordstrom's sales growth of 4%, all three retailers contend with fierce competition from e-commerce leaders and discount retailers. Analysts predict flat to slight declines in holiday sales, underlining a tough environment for traditional retailers. The future may hold further restructuring or even privatization as these stores adapt their strategies.
Stock Forecasts
M
Negative
Given the uncertainties surrounding holiday sales and ongoing competition in the retail space, Macy's could continue to struggle, particularly with its stock down significantly throughout the year.
KSS
Negative
Kohl's has faced considerable adversity, including a significant drop in stock price, which reflects its challenges. The CEO transition may not be enough to turn this trend around in the near term.
JWN
Negative
Despite some sales growth, Nordstrom’s caution about the external environment indicates it might not sustain its performance, which may reflect its current stock price movement.
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