{"id":120117,"date":"2021-08-19T13:35:48","date_gmt":"2021-08-19T13:35:48","guid":{"rendered":"https:\/\/fin2me.com\/?p=120117"},"modified":"2021-08-19T13:35:48","modified_gmt":"2021-08-19T13:35:48","slug":"macys-kohls-raise-annual-sales-forecasts-as-shoppers-return-to-stores","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/macys-kohls-raise-annual-sales-forecasts-as-shoppers-return-to-stores\/","title":{"rendered":"Macy's, Kohl's raise annual sales forecasts as shoppers return to stores"},"content":{"rendered":"
Slideshow ( 2 images )<\/span><\/figcaption>

(Reuters) -Macy\u2019s Inc and Kohl\u2019s Corp raised their full-year sales and profit forecasts on Thursday, as U.S. shoppers coming back to stores splurge on perfumes, shoes and apparel with vaccinations helping a return to pre-pandemic lifestyles.<\/p>\n

Shares of Macy\u2019s rose as much as 9% in premarket trading, as the company said it would restart paying dividends paused last year due to the uncertainty of the COVID-19 pandemic.<\/p>\n

Quarterly net sales at Macy\u2019s jumped 59% and 31.4% at Kohl\u2019s, beating analysts\u2019 average estimates.<\/p>\n

The back-to-school shopping season, which runs from mid-July through early-September, is also expected to boost sales following a year when students were more mostly confined to home computer screens.<\/p>\n

Macy\u2019s said it expects full-year net sales of $23.55 billion to $23.95 billion, compared with a previous forecast of $21.73 billion to $22.23 billion.<\/p>\n

It also raised its 2021 adjusted earnings per share forecast to $3.41 to $3.75, from $1.71 to $2.12.<\/p>\n

Kohl\u2019s now expects full-year net sales to increase in a low-twenties percentage range, compared with a previous forecast of mid-to-high teens percentage rise.<\/p>\n

The company forecast 2021 adjusted earnings per share of $5.80 to $6.10, against a prior forecast of $3.80 to $4.20.<\/p>\n

Walmart Inc and Target Corp also reported better-than-expected quarterly sales earlier this week as shoppers flocked back to stores.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Slideshow ( 2 images )(Reuters) -Macy\u2019s Inc and Kohl\u2019s Corp raised their full-year sales and profit forecasts on Thursday, as U.S. shoppers coming back to […]<\/p>\n","protected":false},"author":3,"featured_media":120116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nMacy's, Kohl's raise annual sales forecasts as shoppers return to stores - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/macys-kohls-raise-annual-sales-forecasts-as-shoppers-return-to-stores\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macy's, Kohl's raise annual sales forecasts as shoppers return to stores - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Slideshow ( 2 images )(Reuters) -Macy\u2019s Inc and Kohl\u2019s Corp raised their full-year sales and profit forecasts on Thursday, as U.S. shoppers coming back to [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/macys-kohls-raise-annual-sales-forecasts-as-shoppers-return-to-stores\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-19T13:35:48+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/Macys-Kohls-raise-annual-sales-forecasts-as-shoppers-return-to-stores.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/macys-kohls-raise-annual-sales-forecasts-as-shoppers-return-to-stores\/\",\"url\":\"https:\/\/fin2me.com\/markets\/macys-kohls-raise-annual-sales-forecasts-as-shoppers-return-to-stores\/\",\"name\":\"Macy's, Kohl's raise annual sales forecasts as shoppers return to stores - 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