Tuesday, May 16, 2017

Cratering Department-Store Sales Herald `Do-More-With-Less' Era

Image result for jc penney poor salesHow quickly can we cut.

That’s the mantra for U.S. department stores these days after every major chain in the industry reported disappointing quarterly sales. The companies are adjusting to a new reality where customer traffic may be slow for years, adding urgency to efforts to slash expenses, close stores and improve product margins.

“These are structural issues that need to be addressed,” said Simeon Siegel, an analyst at Instinet LLC. “Once you acknowledge that sales are lighter, you need to address your profitability -- that’s the do-more-with-less piece.”. . . more

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