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 profit during the quarter as sales surged. Both companies raised their annual financial outlooks.
Macy’s and Kohl’s join a slew of other retailers posting strong sales as they grapple with surging costs and snarled supply chains heading into the holiday shopping season. They’re rerouting shipping to less congested ports to get goods onto shelves.