Analyst warns department stores may be headed for ‘Kodak moment’
August 20, 2019
Many traders are anticipating department store results due out this week with trepidation as the chains seem to continually take one step forward only to be beaten two steps back each quarter by online competition and changing consumer buying habits. Said Boris Schlossberg, managing director at BK asset management on CNBC, “Department stores are actually having a ‘Kodak’ moment, and not in a very good way. … They’re getting completely disintermediated as we go forward.”
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