America has turned its back on JCPenney, Macy's and Kohl's [CNNMoney.com]
JC PENNEY (JCP)
Last jc penney earnings: 2/27 07:30 am
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Source: CNNMoney.com
America has turned its back on big department stores New York (CNN Business) Somehow, in the midst of a monster holiday shopping season, America's biggest department stores managed to lose sales. Despite several attempts to revamp their images, department stores have gotten the cold shoulder from shoppers. This trend isn't new. It has been going on for several years (remember Sears ?). But the 2019 holiday shopping season brought their troubles into stark relief. Despite low unemployment and high consumer confidence, JCPenney ( JCP ) had a dismal holiday. Kohl's ( KSS ) and Macy's ( M ) suffered, too. And Victoria's Secret parent L Brands ( LB ) continued its years-long run of losses. JCPenney's sales at stores and websites open for a year fell 7.5% during the holidays compared with last year. Kohl's and Macy's sales dropped slightly, and Macy's said it will close 28 stores . Victoria's Secret sales at stores and websites open for at least a year fell 12% and its pa
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