“NEW YORK (AP) — Kohl’s Corp. cut its annual earnings and sales forecast, as the department store chain joins a string of retailers stung with soaring inflation.
The reduction, announced Thursday, came as it reported fiscal first-quarter results that came below analysts’ expectations. Sales at stores opened at least year, a key measure, dropped 5.2% as shoppers scrutinized their purchases.
Like many department stores, Kohl’s had struggled before the pandemic, but the health crisis wielded a big blow to sales. The company’s business was rebounding as customers were going out to social events and buying dressier clothes. But like other stores, it’s now grappling with supply chain issues and surging inflation that are causing pain to its business. Moreover, shoppers, facing with higher costs on everything from gasoline to milk, are rethinking their purchases.”
https://www.usnews.com/news/best-states/wisconsin/articles/2…
Gone are the near by department stores, JC Penny’s, Sears and more.
Kohl’s dept store is all that is left in Manitowoc within a decent driving distance.
I sure hope Kohls survives and once again be a prosperous department store chain.
I hope they survive, too… and I admit that I had kind of stopped shopping there even before the pandemic. I figured that was just a stage of life thing because my house is well-stocked, DD is an adult and not growing out of her clothes every year, I don’t buy many clothes for myself anymore. But if that’s repeated enough times, it is likely a problem for them.
As for Manitowoc, my dad shops at Fleet Farm more than anyone else. He came home with a couple of nice pairs of Carhartt pants the other week, one of which actually fit.
ThyPeace, try things on? Of course not.
1 Like
More than anyWHERE else. I’m sure there are people who are there more often than he is. (Maybe not many though.)
ThyPeace, pants, bird seed, and bags of nuts are common purchases for him and my sister.
1 Like
I loved Penney’s, was always able to find clothes for DH as he’s 6’5. I enjoyed Kohls, too but living in the Northwoods now the closest location is in Rhinelander, about a 45 minute drive. I sometimes run in when we visit family in SW Ohio or the Chicago area.
ThyPeace, pants, bird seed, and bags of nuts are common purchases for him and my sister.
Actually DH and I were at Fleet Farm in Mantowoc yesterday, shopping for the same ‘stuff’.
Bird feeder, peanuts for the blue jays and safflower seed for the cardinals.
DH had a doctor’s appointment so we combine as much shopping we can while in the ‘big city’.
Penny’s and Yonkers dept stores in Mantowoc were my go to stores, but both are gone now. In fact they were located in a cluster of many stores. All are gone and all that’s left is a few acres of cement with weeds growing in the cracks.