It's been a long sad slog for J.C. Penney. In 2011, after more than a decade of (at best) mediocre performance, the company brought in Ron Johnson from Apple as its new CEO. In what some saw as a bold attempt at transformation — and others saw as a misguided Hail Mary pass — retail's latest savior changed just about everything … Continue reading It’s just about time for full-on panic at J.C. Penney
Nearly two weeks ago Macy's beat quarterly sales and earnings expectations and many on Wall Street promptly lost their mind. Same story with Dillard's. 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 beginning of … Continue reading Is this the beginning of a department store renaissance? Eh, not so much.
As most U.S. department stores reported earnings recently, a certain level of ebullience took hold. Macy's, Kohl's and even Dillard's, for crying out loud, beat Wall Street expectations, sending their respective shares higher. J.C. Penney, which has failed to gain any real traction despite Sears' flagging fortunes, continued to disappoint, suggesting that I probably need to revisit my somewhat hopeful … Continue reading Better is not the same as good for department stores stuck in the middle
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. In fact, right after these reports shares of Macys, Dillards, Kohls and JC Penney spiked. It's all a bit baffling. On the one hand, if I were a betting person, I expect … Continue reading Department Store Shares Are Up. Your Hopes Shouldn’t Be.
Earlier this year I had the honor of joining Forbes as a retail contributor. As is my tradition, I'll publish my top ten list from my blog right after the New Year. For now, here are my most popular articles on Forbes during 2017. One thing is for sure: folks were interested in hearing me … Continue reading My top ten Forbes posts of the year