Target and TJ Maxx are killing department stores | CNN


Department stores like Macy’s have a big problem, and it’s not Amazon: Discount retailers Target and TJMaxx continue to take their customers.

Macy’s struggled during its latest quarter, adding to a string of poor results at department stores. This comes as lower-priced retailers grow sales and consumer spending in the United States remains strong. Americans are still shopping, but they are hunting for bargains elsewhere.

Macy’s posted a sales decline of 3.9% at stores open for at least a year, the company said Thursday.

Read More

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s