Kohl's Sums up the Holidays

Kohl's (KSS) pretty much summed up the holiday season. Sales came late and, as a result, discounts were deeper than planned. Translation? For one of the few retailers heading into this not-so-festive retail season with high inventory levels, a big guide down was only a matter of time (KSS guided down 20%). 

The good news is KSS was the outlier on the inventory issue as most retailers learned hard lessons last year when bloated inventories resulted in markdowns of as much as 1000 bps. Lower input costs this Q4 will also help soften the gross margin blow delivered by consumers trained to wait for nervous retailers to hit the discount panic button....240 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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