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After reports of lower-than-expected sales for November and December, Macy&rsquo;s shares were down 9.6 percent and Kohl&rsquo;s shares were down 15.2 percent in premarket trading on Thursday. Investors were shocked, according to <a href="http://www.foxbusiness.com/markets/2017/01/05/dismal-holiday-sales-at-macys-kohls-spell-gloom-for-sector.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=fox-business-dismal-holiday-sales-at-macys-kohls-spell-gloom-for-sector-9068" target="_blank" rel="nofollow" target="_blank">FOX Business</a>, given that a bump in holiday spending this year was highly anticipated. The National Retail Federation had forecast sales to rise 3.6 percent to $656 billion for 2016 holiday sales.

Amazon, however, experienced their &ldquo;best ever&rdquo; holiday season, with more than one billion items shipped worldwide. This is just a strong representation of how consumers are turning to the Internet more and more for shopping.

&quot;(The forecast) reflects the realities of market share losses to off-price retailers such as TJX Cos Inc , Amazon and other online threats, with the pace of store rationalization and monetization just not fast enough,&quot; said Deutsche Bank&#39;s Paul Trussell.

<a href="http://www.foxbusiness.com/markets/2017/01/05/dismal-holiday-sales-at-macys-kohls-spell-gloom-for-sector.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=fox-business-dismal-holiday-sales-at-macys-kohls-spell-gloom-for-sector-9068" target="_blank" rel="nofollow" target="_blank">Click here to read the full article.</a>

Macy's & Kohl's Holiday Sales Decline | 1851 Franchise

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FOX Business: Dismal Holiday Sales at Macy’s, Kohl’s Spell Gloom for Sector

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