Cleveland Research commented on retail department stores sales in notes this week. Despite the firm's optimism on J.C. Penney's JCP second quarter, Kohl's KSS is facing near-term headwinds from soft sales.
Analyst Matthew Delly reported that Kohl's sales are softer than expected. Delly cited the mixed seasonal category sales and soft Father's Day sales. Cleveland Research added that there has been no meaningful change in Kohl's trends.
The analyst said that the next five weeks may be crucial in determining the need for incremental markdowns.
Shares of Kohl's closed at $53.16 on Tuesday. The stock fell as much as 1.84 percent before 10:30 a.m. ET. Shares are currently trading at $52.33.
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