Kohl's reports November SSS down 5.6%, total sales down 4.9% The company says "Though November sales were lower than expectations, we are encouraged by improved sales over the Thanksgiving week. There was a significant shift in Black Friday-related sales into our E-Commerce channel. For the week, both transactions and sales in E-Commerce increased over 50% with most of these sales being recognized in December. The combination of these E-Commerce sales and our store sales resulted in higher sales for the last week of the month."
Kohl's upgraded to Buy from Neutral at Citigroup Citigroup upgraded Kohl's to Buy on expectations the company's comp store sales and margins will improve due to better product assortment, loyalty program leverage and inventory management. Citi raised its price target for shares to $70 from $63.