http://www.bloomberg.com/news/articles/2015-11-09/macy-s-kohl-s-tumble-after-citigroup-warns-of-tough-quarter-
Shares of Macy’s Inc. and Kohl’s Corp. declined after Citigroup Inc.
cut its earnings estimates for the companies, saying the industry is
suffering from a sales slowdown and inventory glut.
Citigroup
analyst Paul Lejuez also reduced target prices for the two stocks after
checking on sales channels and assessing commentary from vendors,
including Michael Kors Holdings Ltd. and Ralph Lauren Corp. He now
expects Macy’s to post earnings of 47 cents a share for the third
quarter, down from an earlier estimate of 52 cents. The analyst trimmed
his Kohl’s estimate to 58 cents a share from 69 cents.
Again the FEDS are just pandering and buying more time. If anything prepare for more QE, which most likely has already been implemented.
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