JC Penney (JCP) and Kohl's (KSS) are going for the middle-income shoppers that think Macy's is too expensive and Wal-Mart (WMT) is too low budget. Kohl's posted a stunning 16.3 percent September gain in sales Penney's up 8.7 percent, doing better than Neiman Marcus and not far behind Saks Fifth Avenue and Nordstrom.
Both stores are battling for the bucks this season and are posting impressive sales gains and hope to carry that momentum through December. Both are also in the middle of major expansion binges, building new stores at the fastest pace in years, according to this msnbc.com article.
Penney's has gone a bit more upscale in their offerings adding more electronics, jewelry, toys and fancier clothes. They have gone back to their roots with a nostalgic TV-advertising campaign filled with vintage film of families celebrating Christmas decades ago.
Kohl's have increased their inventory in menswear-pushing watches and jewelry and are counting on luxury home items to be big sellers such as high-thread count sheets, goose down comforters and cashmere throws.
Read the full article here.
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