Macy’s and JCPenney both appear same-store sales advance for November and December on Thursday. That’s the acceptable news.
But they additionally common that they apprehend the year advanced to be weak.
Sales are accepted to abatement as abundant as 1% at JCPenney (JCP) from a year ago and be bottomward amid 2.4% and 2.7% at Macy’s (M). Shares of both stocks were bottomward about 5% as a result.
On top of that, Macy’s said it affairs to aing 11 added food in aboriginal 2018.
It’s alike worse for L Brands, the buyer of Victoria’s Secret, Pink and Bath & Body Works.
Alike admitting L Brands (LB) appear a sales jump for December, the banker additionally bargain its accumulation angle for the fourth quarter. Shares plummeted about 15%.
Related: Retail’s toughest year — a almanac for abundance closings
It’s acutely a arduous time for these retailers due to acute competition. Consumers are still spending afterwards all. They are aloof added arcade online and at trendier, cheaper capital upstarts.
Amazon (AMZN) has focused added on its own clandestine characterization accouterment brands afresh and additionally has several in-store partnerships with Macy’s and JCPenney battling Kohl’s (KSS).
Walmart (WMT)has fabricated several bright acquisitions of e-commerce companies, such as Jet, ModCloth, Bonobos and ShoeBuy as well.
And the acceleration of fast appearance retailers such as Zara, Uniqlo and Forever 21 is binding Macy’s, JCPenney and L Brands too.
It aloof goes to appearance that the affliction may not be over for disturbing retailers aloof yet. To that end, shares of Target (TGT), Sears (SHLD) and Nordstrom (JWN) were additionally lower Thursday.
CNNMoney (New York) First appear January 4, 2018: 12:45 PM ET
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