Kohl’s Says Consumers Are Balking at Inflation
Share this @internewscast.com



Kohl’s slashed its sales and profit targets amid a sharper-than-expected pullback in consumer spending, but executives said suitors remain interested in buying the department-store chain ahead of a bid deadline.

While the first quarter started strong, company officials said, demand weakened as inflation spurred consumers to tighten their belts without the lift from last year’s government stimulus to help spending. Overall sales for the quarter fell 5.2% from a year earlier.

Share this @internewscast.com
You May Also Like

Crypto market volatility shows need for ‘enhanced regulatory and law enforcement frameworks’ — BoE

The Bank of England has called for “enhanced” regulations of crypto to…

Who owns the most Bitcoin in 2022?

One of the main features of the Bitcoin blockchain is its transparency.…

Crypto community eyeing three macro events to tip crypto scales in July

The crypto community is looking into three key dates this month that…

5 Steps To Pursue Financial Stability In A World Of Volatility

Stone composition on the beach. getty How would it feel to have…

China’s Fast-Fashion Giant Shein Faces Dozens of Lawsuits Alleging Design Theft

HONG KONG—In just a few years, the Chinese apparel giant Shein has…

China’s Covid Isolation Spurs Beijing-Based Development Bank to Open Overseas Office

BEIJING—The China-backed Asian Infrastructure Investment Bank is set to open its first…

Singapore’s financial watchdog considers further restrictions on crypto

The Monetary Authority of Singapore, or MAS, has been “carefully considering” adding…

Ford’s U.S. Sales Increase 32% in June, Outpacing Broader Industry

Ford Motor reported a nearly 32% increase in U.S. sales in June,…