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Kohl’s, Target See Positive Holiday Season

Jan 10, 2018 4:45 AM   By Rapaport News
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RAPAPORT... Kohl’s and Target both reported sales growth during the holiday season, continuing the positive trend seen in the US retail sector this year.  

Kohl’s reported a 6.9% year on year rise in total sales, with growth across most categories.

“We are very pleased with our holiday-period sales, which were consistently strong through November and December.” said Kevin Mansell, chairman and CEO of Kohl’s said Monday. “All lines of business and all regions reported positive [comparable] sales.” 

Target saw higher than expected growth, with comparable sales — from stores open for at least a year — rising 3.4% over November and December 2016.

“We are very pleased with our holiday-season performance, which reflects the progress we’ve made against our strategy throughout the year,” Brian Cornell, Target's chairman and CEO, said Tuesday. He attributed the strong holiday showing in part to the company’s decision to invest more money in growing and modernizing its stores.

Earlier, J.C. Penney’s and Macy’s also reported increased year-on-year holiday sales growth, with a large percentage of their gain coming from fine-jewelry purchases.

Both Kohl’s and Target noted they saw stronger foot traffic inside stores.

Image: Kristiantiholov
Tags: Brian Cornell, comparable sales, J.C. Penney’s, Kevin Mansell, Kohl’s, Macy’s, Rapaport News, retail, target
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