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
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