Dismal holiday results from retailers are prompting executives across the industry to shrink or adapt their stores, and rethink the cost of growing their online operations, the Wall Street Journal reported today. Kohl’s Corp. said yesterday that it would close 18 stores after reporting weak sales, while Sears Holdings Corp. is looking to sell $300 million in assets after reporting yet another loss. Best Buy Co. warned of weak demand for electronics, and shares of Restoration Hardware Inc. plunged as much as 29 percent yesterday after it blamed poor sales on a “pullback by the high-end consumer.” Declining shopper traffic is prompting companies such as Macy’s Inc. and Wal-Mart Stores Inc. to close low-performing locations this year. The shift to online shopping also is vexing chains: Nordstrom Inc. said that it would curtail technology spending after profits fell 29 percent last quarter, in part because of costs related to Web sales.
