Monday, May 16, 2016

Have shoppers deserted the malls and big department stores?

A shopper looks at a purse in a Macy's department store in New York.The last few weeks of the earnings season have pointed to a new retail trend. While big names such as Macy's and J.C. Penney have reported disappointing earnings, the U.S. retail sales reported its biggest rise in over a year. So where are consumers spending?

"If you look at the composition of the retail numbers, people are eating out, people are shopping online," Stacey Widlitz, President, at SW Retail Advisors told CNBC. "Department stores are crumbling, which is in line with the numbers we saw, so people are shopping differently and again we have talked about this so many times that they are spending on experience.". . . more

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