Pursuits
Cratering Department-Store Sales Herald 'Do-More-With-Less' Era
- J.C. Penney, Nordstrom follow peers in posting weak results
- Industry stocks were rocked this week by bleak sales outlook
Retail Struggles While Consumers See a Rebound
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How 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.