First, it was Shein and Temu and then off-price retailers such as TJX and Ross, who started introducing named brands at lower prices to attract the bargain-hungry consumer. Macy’s and Kohl’s were once America’s favourite shopping destinations and were frequently shown in Hollywood movies as the go-to places but post-pandemic they fell out of relevance.
Looks like **** is no different for these two companies, which are due to report their first-quarter earnings in the coming days. According to Placer.ai, traffic remained negative at both stores, with Kohl’s seeing a *.* per cent year-over-year decline in the first quarter and Macy’s at its namesake store is witnessing a **.* per cent drop in traffic for the same period.
