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Fly News Breaks for November 20, 2019
KSS
Nov 20, 2019 | 09:22 EDT
Jefferies analyst Randal Konik said he must adopt a more conservative approach toward Kohl's (KSS) after its sales were softer than expected and its gross margins deteriorated further in the third quarter, "which is never a good combination." Competitive pressures are rising, other retailers appear to be taking share, and the Amazon (AMZN) partnership doesn't appear to be providing meaningful benefits yet, said Konik, who lowered his price target on Kohl's shares to $65 from $75 but keeps a Buy rating on the stock.
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