Target Corp said on Tuesday it expects profit margins to stabilize in the year ahead even as they are pressured by investments in store and online operations, sending its shares down more 4 percent in afternoon trading.
The retailer forecast broadly lower-than-expected full-year profit on Friday as the department store operator grapples with weak demand for its clothes and fierce online competition, sending its stock down 10 percent.
Kohl’s shares fell more than 6% on Thursday after the retailer forecast 1Q earnings below Wall Street’s expectations, partly due to higher costs, taking the shine off strong sales for the holiday shopping period.
Macy’s Inc on Tuesday reported higher-than-expected same-store sales growth for the fourth quarter and forecast a possible return to annual comparable sales growth in 2018, sending shares higher in pre-market trading.
Target raised its quarterly profit and sales forecasts on Tuesday on the back of surging online sales and customer visits in November and December, putting the U.S. retailer on track for the best quarter in five years.
A jump in consumer spending in the final stretch of December should build on a strong start to the U.S. holiday season and help the embattled retail industry beat sales forecasts, industry research groups said.
Shares of retailers such as Macy’s Inc and Wal-Mart were up on Monday following a promising start to the holiday season and ahead of what is expected to be the largest U.S. online shopping day in history.
Shares of U.S. retailers rose on positive Black Friday shopping reports of online and brick-and-mortar stores such as Amazon.com and Macy’s, signaling consumers are spending more than the last two holiday seasons.
Shoppers splurged more than $1.52 billion online by Thanksgiving evening, up 16.8% over last year, and more bargain hunters turned up at stores this year as retailers opened their doors early on the eve of Black Friday.
Old Navy advisor Gill Hong joins Lands' End as EVP, Chief Merchandising Officer and Head of International, while retail and omni-channel veteran Sarah Rasmusen rejoins the company as SVP of E-Commerce.