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JCPenney sales go slack as traffic sputters
Plano, Texas – JCPenney swung to a loss during the second quarter as weaker traffic drove down sales. Sales for the quarter ended Aug. 3 fell 8.9% to $1.5 billion, according to a filing from JCPenney...
View ArticleBig Lots loses $40 million in soft home sales in 1st half
Columbus, Ohio – Sales of soft home merchandise at Big Lots fell more sharply than the overall company’s sales declined during the first six months of the fiscal year. Soft home sales dropped more than...
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Lower prices? Largest Ikea retailer says yes
Leiden, Netherlands — Economic uncertainties, higher interest rates and inflation contributed to the business challenges of home furnishings retailers in recent months, but these factors also played a...
View ArticleHome furnishings sales lagged the broader trend in September | CNBC/NRF...
Washington – Although retail sales dipped in September compared to August, consumers continued to spend more than they had in the year-ago period. Total retail sales, excluding automobiles and...
View ArticleNRF forecasts holiday sales growth in line with the 2024 trend
Washington – The National Retail Federation (NRF) this morning issued its holiday outlook for the period between Nov. 1 – Dec. 31. The organization expects seasonal holiday spending to grow between...
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Why JCPenney’s CEO is encouraged about Q4 business
Plano, Texas – Now 14 months into JCPenney’s its $1 billion investment program, company CEO Marc Rosen sees signs that the strategy is paying off. JCPenney’s sales sputtered during the second quarter...
View ArticleRevenue tumbles nearly 17% as Beyond Inc. pursues transformational business...
Midvale, Utah – Although Beyond Inc.’s nameplates served more customers during the third quarter, it handled fewer orders and saw revenue drop by double-digits. Total net revenue fell 16.6% to $311...
View ArticleSeptember and early October spending suffered from ‘pre-promotion pullback’...
Chicago – U.S. retail spending remains stable, but consumers are “making adjustments to purchase behavior, according to consumer behavior and trend tracker Circana. In the five weeks ending Oct. 5,...
View ArticleAmazon keeps chugging along with 11% sales growth in Q3
Seattle — It was another positive quarter for Amazon, as net sales for the online retailer rose by 11% to $158.9 billion in the third quarter of 2024. North America sales reached $95.5 billion, up 9%,...
View ArticleWayfair Q3 results show ‘resilience’ to industry challenges
Boston — Despite consumer trepidations on spending, Wayfair continues to take market share, said Niraj Shah, CEO, co-founder and co-chairman during the company’s third quarter earnings call. “Q3 marked...
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