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Holiday season may not be so jolly warns analyst

August 15, 2019

Not every retailer may have a jolly holiday season as one industry watcher said it may be a "sobering" one for department chains.

Credit Suisse analyst Michael Binneti was warning clients about lowered guidance as retail earnings reports arrived this month, according to a CNBC report.

The analyst was expecting several retail brand names, including Macy’s and Kohl’s, to report lower earnings targets for the second half of the year as well as lower sales.