Kohl's, Penney report holiday sales declines
Published
NEW YORK (AP) — Mall-based retailers J.C. Penney, Kohl's and Victoria's Secret parent are reporting sales declines for the holiday season, underscoring challenges ahead from online rivals.
The sales releases, issued Thursday, come one day after Macy's reported a small decline in holiday sales. J.C. Penney says sales at stores opened at least a year dropped 7.5% for the November and December period, while Kohl's posted a 0.2% decline. At Limited Brands, which operates Victoria's Secret and Bath & Body Works, the figure dropped 3%.
The weak sales come as overall retail industry sales are expected to rise, boosted by a strong economy.