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The holiday season cast further doubt over whether department stores can survive in a new age of retailDepartment-store stocks dropped sharply on Thursday.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Strong economy does little to lift US department store salesDespite investors' expectations of robust sales, big department stores reported disappointing sales figures for the holiday season, sending their share values tumbling.
Source: trtworld - 🏆 101. / 63 Read more »
Strong economy does little to lift department store salesNEW YORK (AP) — It was supposed to be a great holiday shopping season. Many investors had expected department stores to enjoy robust sales in light of a U.S. economy buoyed by low unemployment, higher wages, strong consumer confidence and cheap gas. So when Macy's and Kohl's reported lackluster numbers on Thursday, they were taken aback, sending retail stocks into a tailspin and calling into question whether such mall-based chains can compete in a changing landscape where shoppers are shifting more of their spending online. Narrator: They couldn't Thanks a lot Millennials, and capitalism.
Source: AP - 🏆 728. / 51 Read more »