Moody's revises US department store operating income forecast following poor holiday sales
New York, February 09, 2017-- A less than stellar holiday season for US department stores has led Moody's Investors Service to revise its forecasts for the sector's operating income, the rating agency says in a new report. Moody's now expects 2016 aggregate operating income to decline 18%, rather than 11%, and for sales to also decline in the year ahead. "Prior to the 2016 holiday shopping season, it looked as if department stores could get back on track after a tough year," said Moody's...
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