Retailers, consumers and prices
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.
In a wake-up call to the industry, a new survey shows that customer satisfaction with online retailers declined 3 percent from last year.