November 10, 2003,
Kohl's cuts earnings forecast
With its transaction rates faltering and inventories up 17 percent over than last, Kohl's last week whittled its third quarter earnings forecast from 44 cents per share down to 35 cents — well below analysts' expectations of 42 cents.
Research firm predicts holiday gains for '04
America's Research Group founder Britt Beemer is projecting that holiday sales this year will post a 4.8 percent gain over 2003 as consumers spend more per usual on individual gifts and buy more gifts than they did previously.
The top price range for this year is $36 to $50, up from last year's $21 to $25. In a piece of good news for the home furnishings industry, Beemer reports that the number of Americans planning to entertain this year is at a 10-year high. Other hot trends for holiday 2004: gift certificates/gift cards, consumer interest in 50 percent off promotions, affinity credit card programs, eBay and Internet shopping.
Related Content By Author
The Countdown to the ICON Honors Continues featuring Christophe Pourny