There’s not much to like about retailers’ first-quarter earnings, and even their top executives are admitting it. “Clearly, our industry is in something of a rough patch,” Macy’s Chief Financial Officer Karen Hoguet told analysts ...
Online shopping is reaching such a critical mass with American households that many of the icons of the traditional mall —from Macy's to The Gap and J.C. Penney — face an increasingly uncertain future.
Are retailers ringing the warning bell on the American economy? US shares have slipped this week after top retailers unveiled dismal first-quarter results.
Kohl's and Nordstrom reported a surprise fall in same-store sales, highlighting as consumers pull back spending on apparel.
Department stores still haven't figured out how to lure shoppers back.
The economy is bouncing back, and customers just aren't hitting stores or filling up digital carts like retailers â especially apparel chains and department stores â thought they would.
Retail’s hell week ended with a collective thud on Friday. At least half a dozen of the county’s largest retailers, including Macy’s, Nordstrom and JCPenney, saw their shares pummeled by investors after they reported disappointing results in the first quarter. Shoppers were just not spending money at malls, it turned out. Across the board, the retail chief executives told investors this week that fewer customers had shopped in their stores, leaving them with too much inventory and a growing sense of desperation. “We are not counting on the consumer to spend more, so we are working harder to give customers more reasons to buy from us by delivering outstanding style, quality and value,” Macy’s CEO Terry Lundgren told investors when it reported same-store sales slipped 6 percent in the three-month period which ended April 30. JCPenney, which trimmed employees’ hours in the final weeks of April, reported that its same-store sales
Iconic American stores Macyâs and Gap are facing tough questions about their future following dreary earnings announcements this week that highlighted the growing market share taken by online retailers.