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Kohl’s Says Inflation Is Drawing Wealthier Shoppers Looking for Deals

Gass’s comments echoed remarks earlier this week by Walmart CEO Doug McMillon, who said families making more than $100,000 drove a lot of sales growth last quarter as they sought refuge from the highest US inflation in four decades. Unfortunately for Kohl’s, the boost from well-heeled consumers can’t make up for the pullback by its core shoppers. 

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