Macy's, Kohl's post strong results heading into holidays
By ANNE D'INNOCENZIO AP Retail Writer
NEW YORK (AP) — Department store chains Macy's and Kohl's delivered strong results for the fiscal third quarter as shoppers go back to buying dresses and other goods that fell to the bottom of the shopping list when the pandemic struck.
Macy's and Kohl's swung to a quarterly profit as sales surged. Both also raised their annual financial outlooks.
Macy's and Kohl's join a slew of other retailers posting strong sales as they overcome surging costs and snarled supply chains ahead of the holiday shopping season.
They're rerouting shipping to less congested ports to get goods onto shelves.
Retailers like Macy's are also paying higher wages and expanding benefits for workers amid a tight labor market.