Weak Home Depot, Kohl’s Results Unnerve the Retail Industry
- Lower forecasts spark share declines ahead of holiday season
- TJX says tariffs uncertainties weigh on retailer’s visibility
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Home Depot Inc. and Kohl’s Corp. both posted disappointing results on Tuesday, raising fresh doubts about whether American consumers can keep up robust spending as the crucial holiday season approaches.
The two retailers cut their annual forecasts for the second time this year. While the companies blamed shortfalls on specific issues -- including lumber prices at Home Depot and lower demand for women’s apparel at Kohl’s -- the weak results sent jitters across an industry that has been scrutinized for any sign of weakness amid a record streak of economic growth.