The sharp selloff of retail stocks Tuesday sends a powerful signal: Investors are worried that the deep discounts that battered Kohl's latest earnings report will repeat itself as more retailers report in the coming days.
Kohl's said the warmer temperatures stuck around longer that normal at the start of this fall season.Kohl's CEO Michelle Gass expects the heightened promotional activity is here to stay.Frederic J. Brown | AFP | Getty Images
But it's not just the weather. Kohl's CEO Michelle Gass expects heightened promotional activity is here to stay throughout the holiday season. That's ultimately what drove Kohl's to lower its full-year profit outlook. However, other categories like home goods, also saw competitive pricing. And Kohl's responded by slashing prices even if it hurt its profits.
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