Department Stores Did Not Perform Well This Holiday Season

NEW YORK (AP) — A cheerless holiday season has rolled over into the new year at the nation’s largest department stores, which are cutting jobs, profit expectations and closing scores of locations.
Macy’s and Kohl’s reported falling sales at established stores during the crucial holiday season late Wednesday which sent investors fleeing shares of companies across the entire sector. Shares of Kohl’s Corp. plunged 18 percent in early trading Thursday and Macy’s I