Pursuits
Kohl's Follows Macy's Into Tailspin as Retailers' Rout Persists
- Investors jolted by fears that consumers just aren't spending
- Macy's dour forecast yesterday dragged down rest of industry
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Kohl’s Corp. followed department-store rival Macy’s Inc. in posting weak results on Thursday, bringing a second day of suffering to many retail and apparel investors.
Kohl’s posted first-quarter earnings 31 cents a share, excluding some items, well short of the 37 cents estimated by analysts. And its same-store sales -- a closely watched measure -- fell 3.9 percent. Analysts had been looking for a 0.4 percent gain.