Department stores came into the holiday season with high hopes, particularly as initial online Thanksgiving weekend numbers indicated that sales would be plentiful. However, recent holiday sales reports from Macy’s and Kohl’s reveal that though their expectations were great, the reality was anything but. However, one major retailer, Target, actually surpassed expectations. Macy’s saw shares drop as much as 19% on Jan. 10, after the retailer unveiled November-to-December same-store sales only increased 1.1%, with a lull occurring in the mid-December period. CEO Jeff Gennette said holiday sales disappointed in sportswear, sleepwear, jewelry and cosmetics, and Macy’s now expects no net sales growth for fiscal 2018, scaling back initial projections of 0.3% to 0.7% growth. The company also dialed back its earnings per share range, from $4.10 to $4.30 to $3.95 to $4.00.