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Department Store Shares Are Up. Your Hopes Shouldn’t Be.

Steve Dennis

Amidst reports that holiday spending was up nearly 4.9% , some optimism about the American moderate department store sector has started to creep back in. As I pointed out several months ago , at least two major things must happen before any optimism about the prospects of any of the middle market department store brands is warranted.

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Is this the beginning of a department store renaissance? Eh, not so much.

Steve Dennis

Then Kohl’s followed up with a similarly surprising upside report that led some to conclude that maybe, just maybe, the long-beleaguered department store sector might be seeing a resurgence or—dare we say it out loud?—the The moderate department store sector has been in decline for a long, long time.

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NRF: Shoppers Are Spending for Valentine’s Day and Super Bowl Despite Pandemic Pressures

Retail TouchPoints

consumers tune in to the big game. Ecommerce shops will be the most popular destination, visited by 41% of shoppers, followed by department stores ( 32% ), discount stores ( 28% ), small businesses ( 18% ) and florists ( 17% ). A full 60% of shoppers have no plans to travel to watch the game. billion as 72% of U.S.

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After 150 years, Bloomingdale’s names its first-ever chief merchant

RetailDive

The move could mean that the upscale Macy’s-owned department store is stepping up its game against rival Nordstrom, observers say.

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Retail Design Trend Forecast: Mixed-Use Spaces and the ‘15-Minute City’

Retail TouchPoints

According to the second annual report from the global architecture and design firm, shopping centers, malls and department stores are being transformed into mixed-use spaces, a trend that prioritizes the needs of consumers whose time is valuable as they change the ways they live, work, shop, dine, exercise and socialize.

Leisure 278
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Belk Continues C-Suite Refresh with Merchandising Chief Appointment

Retail TouchPoints

During a time of continued C-suite transition, department store retailer Belk has appointed MaryAnne Morin as its President and Chief Merchandising Officer. District Court Western District of North Carolina suing Patel and GameStop, alleging they solicited the department store’s senior employees to join the gaming retailer.

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JCPenney Proclaims ‘Shopping is Back!’ in New 120th Anniversary Campaign

Retail TouchPoints

The department store retailer has updated its branding in stores and online in addition to offering an anniversary discount of 30% storewide and, for reward members, an additional $10 in bonus rewards for every $50 spent through April 12. During each stop on the “Shopping is Back!”

Travel 293