Retailers, consumers and prices
Check Out Line: Retail earnings present a mixed bag
Check out U.S. retailers posting better-than-expected profits but seeing their shares fall.
Kohl’s Corp on Thursday posted quarterly profit that rose more than Wall Street had expected. But the mid-tier department store operator’s shares fell nearly 3 percent after its forecast for the second quarter and full year fell short of analysts’ estimates.
“Consumers appeared to be a little more confident in their spending, but remain focused on value and ways to make their dollars go farther,” said Kohl’s CEO Kevin Mansell in a statement.
Meanwhile, specialty retailer Urban Outfitters reported that quarterly profit rose 72 percent, but its earnings per share only topped Wall Street estimates by a penny and its shares fell 3 percent.
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