Turnarounds uncertain at Macy's, Kohl's, Nordstrom as department stores enter the holiday season

Published On Nov 29, 2024, 8:30 AM

As the holiday season approaches, department stores like Macy's, Kohl's, and Nordstrom face significant challenges. Sales projections indicate continued declines, with Macy's seeing a 1.3% drop in same-store sales, while Kohl's reported an 8.8% decline. Despite Nordstrom's sales growth of 4%, all three retailers contend with fierce competition from e-commerce leaders and discount retailers. Analysts predict flat to slight declines in holiday sales, underlining a tough environment for traditional retailers. The future may hold further restructuring or even privatization as these stores adapt their strategies.