Even Retail Stalwart TJX Couldn't Meet Expectations Last Quarter
During the past five years, department stores have faced massive sales challenges. Even top performers like Kohl's Corporation (NYSE: KSS) have posted comp sales declines for most of that period.
Meanwhile, off-price giant TJX Companies Inc (NYSE: TJX) has continued its run of explosive growth. Comp sales increased by 5% in each of its past two fiscal years, following a 4% increase the year before that.
However, even TJX couldn't manage to post comp sales growth during the third quarter, due to the impact of hurricane-related store closures and unfavorable weather. This makes it all the more impressive that some department store companies, including Kohl's (NYSE: KSS), did manage to eke out comp sales gains last quarter.
Source: Fool.com
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