Poor foot traffic, increased promotions lead to weaker outlook

   24 May 2016

The leading department stores rely on heavy foot traffic near year round to induce customers to browse. However in late March our online ensemlbe indicated weaker traffic for a wide range of department stores including Macy’s (M), Kohl’s (KSS) and Nordstrom (JWN). The trend further worsened in May. Our online composite, measuring a wide range of metrics such as estimated conversions, discounts, response to promotions, and e-commerce visits was down more than 30%

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