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."
J.C. Penney downgraded to Sell from Neutral at UBS UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.