Walmart, the giant retailer, said Tuesday that it had attracted more customers during the crucial holiday shopping season but that its efforts had come at a cost. Sales at U.S. stores open at least a year rose 1.8 percent during the fourth quarter, compared with a 1.3 percent increase many analysts were expecting, Walmart reported .
Category: Federated Department Stores
Macy’s tops 4Q profit forecasts
The Cincinnati-based department store chain said it had net income of $1.54 per share. Earnings, adjusted for non-recurring costs, came to $2.02 per share.
A Macy’s, Inc. Fire Sale Would Be Bad for Investors
CEO Terry Lundgren has been trying to rally his employees with the slogan, “A setback is a setup for a comeback.” However, despite having led a remarkable comeback at Macy’s after the Great Recession, Lundgren may be losing confidence in Macy’s ability to recover from its recent declines in sales and earnings.
Here’s One Thing Macy’s CEO Doesn’t See Changing in Crumbling Retail Sector
Shopping on the internet will probably continue to disrupt legacy bricks-and mortar retailers for the foreseeable future, but one thing is likely to remain constant throughout. That is the need for salespeople in the store to convert what shoppers do show up to actual spenders.
Despite gloom at big chains, retail industry has a solid holiday season
In recent weeks, gloomy news has abounded about how the retail industry held up during the crucial holiday season: Macy’s saw its sales sink 2.7 percent and announced it will slash 10,000 jobs . Chains such as Kohl’s, J.C. Penney, Sears and Barnes & Noble also reported sales declines.
Stocks Wobble as Retailers Suffer From Weak Holiday Season
Stocks wobbled between gains and losses on Thursday morning after retailers suffered from a poor performance over the critical holiday-shopping season. The S&P 500 was down 0.03%, the Dow Jones Industrial Average fell 0.05%, and the Nasdaq climbed 0.2%.
Is It the Magic of Trump or Just Investors Blinded by a Happy New Year? -ICYMI
Macy’s said Wednesday it will close 68 stores by early spring. Macy’s flagship store in Herald Square in New York City is pictured above circa 1895.