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.”
Recent News
TikTok Suspends TikTok Lite Rewards Program in the EU
A TikTok service offering rewards such as gift vouchers for watching videos has been suspended by the social media site.
FCC Votes To Restore Net Neutrality Rules
The Federal Communications Commission (FCC) voted 3-2 on Thursday to reinstate net neutrality rules that were rolled back during the Trump administration.
Blackstone To Buy Tropical Smoothie Cafe
Alternative asset manager Blackstone is set to buy the restaurant chain Tropical Smoothie Cafe.
Ford’s Total EV Sales Post $1.3 Billion Loss in Q1
Ford’s EV division, known as Model e, faced a tough start to 2024.