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Macy’s and Kohl’s miss mark in December; Nordstrom shines
New York City -- On the heels of a strong November, some department store retailers reported surprisingly weak December revenue. Results were impacted by a blizzard in the Northeast, which took a bite out of sales after Christmas.
The results raised some worries that the holiday season might be less stellar than some had hoped. Still, much of Wall Street still predicts that November and December spending will show the largest annual increase since 2006.
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TJX beats street in December
TJX reported same-store sales of 2% December, beating Wall Street estimates for a 2.5% decline. Total sales rose 6% to $3 billion.
"I am extremely pleased with December's sales results, as we significantly exceeded our plans during this important period," TJX CEO Carol Meyrowitz, CEO, TJX.