Excerpt from our One-Page Annotated News Summary:
Summary: Despite Kohl’s (NYSE:KSS) sales doubling to $13 billion over the past five years, executives are coming to grip with the fact that customers find the stores, “easy to shop, but not exciting.” After researching what makes shoppers tick, Kohl’s is scheduled to open new stores today that it believes will broaden its traditional customer base. Imitating department stores, new stores will have large glass windows with mannequins displaying the latest fashions. Kohl’s is also signing up designers to develop exclusive lines for the store; so far they have enlisted Daisy Fuentes and Vera Wang. Last year Kohl's sales hit $13.4B, up from $6.2B in 2000. During the same period profits rose from $372M to $842M. September same store sales are due out today. Analysts expect a 16% increase.
Related links: Full article • Where is the Retail Carnage Everyone Keeps Talking About? • Discount Retailer Operating Income Growth • WSJ.com: Retail Head Fake • Forbes: Kohl's Looks Good, J.C. Penney Looks Better: Analyst • BusinessWeek: Kohl's and TJX: Money in the Middle
Potentially impacted stocks and ETFs: Costco (NASDAQ:COST), Target (NYSE:TGT), Wal-Mart (NYSE:WMT), Sears Holding (NASDAQ:SHLD), JC Penney (NYSE:JCP), Federated Department Stores (FD). ETF: Retail HOLDRs (NYSEARCA:RTH)
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