Upscale department store chain Nordstrom Inc posted on Thursday 14 May a 32 percent drop in quarterly net profit that was above Wall Street's estimates and raised its 2009 profit outlook, sending its shares up nearly ...
Kohl's Corp posted a lower quarterly profit on Thursday 14 May but just beat Wall Street's expectations as the department store operator managed to show a slight increase in sales despite persisting consumer thrift.
Standard & Poor's on Thursday 16 April cut its ratings on five U.S. retailers, and sent Macy's Inc and J.C. Penney Co into junk territory, citing concerns over the impact of the U.S. slowdown on department store sales.
Luxury goods sales worldwide could fall 10 percent this year to $201 billion, with the U.S. market in the greatest retreat, according to a forecast reported on Friday 10 April by the Wall Street Journal.
U.S. retailers that cater to young people ended up at the bottom of the class in terms of March sales, but some of those chains exceeded Wall Street's expectations or set higher quarterly profit targets.