The economy will continue its downward trend as the leftists in this administration continue to attack big oil and bury us in debt subsidizing inefficient green energy deals.
Kohl’s stock price tanked by as much as 26% on Thursday after the department store chain posted a surprise quarterly loss on weaker consumer demand — especially among inflation-battered middle-class shoppers, the company said.
The Wisconsin-based company cut its annual sales and profit forecasts as shoppers are still prioritizing essential purchases over discretionary products like apparel, electronics and home goods as they face dwindling pandemic-era savings.
Discretionary spend of Kohl’s middle-income customers continues to be pressured by a number of economic factors including high interest rates and inflation, while it has remained steady among high-income customers, Chief Executive Officer Tom Kingsbury said on a post-earnings call.
nypost.com
Kohl’s tanks 26% as inflation-weary shoppers pull back to sink sales, profits
Kohl’s stock price tanked by as much as 26% on Thursday after the department store chain posted a surprise quarterly loss on weaker consumer demand — especially among inflation-battered middle-class shoppers, the company said.
The Wisconsin-based company cut its annual sales and profit forecasts as shoppers are still prioritizing essential purchases over discretionary products like apparel, electronics and home goods as they face dwindling pandemic-era savings.
Discretionary spend of Kohl’s middle-income customers continues to be pressured by a number of economic factors including high interest rates and inflation, while it has remained steady among high-income customers, Chief Executive Officer Tom Kingsbury said on a post-earnings call.
Kohl’s tanks 26% as inflation-weary shoppers pull back to sink sales, profits
Khol’s stock was trading at around $20.70 a share — on track for its lowest value since November.
nypost.com