Retail shares slide as otherwise strong consumer spending didn't boost holiday sales enough - CNBC
CNBC - Thu 10 Jan 19:12 GMT

Retail shares slide as otherwise strong consumer spending didn't boost holiday sales enough - CNBC

A strong U.S. consumer wasn't enough for department stores to counteract broader issues and investors' high expectations for the holidays. Shares of the country's biggest department stores tumble, led by disappointing holiday results delivered by the biggest…

  A strong U.S. consumer wasn't enough for department stores to counteract broader challenges facing the industry and investors' high expectations for the holidays.

  Shares of the country's biggest department stores tumbled Thursday, led by disappointing holiday results delivered by the biggest department store in the U.S. by market cap, Macy's.

  Kohl's on Thursday said holiday sales rose 1.2 percent over the previous year, a steep decline compared with growth of nearly 7 percent during the same time a year before.

  Shares of the Wisconsin-based department store fell by about 7 percent.

  Department stores will need to deliver sales growth, even after last year's strong boost.