Nation’s largest department store Macy’s is closing 100 stores nationwide, 14% of the store’s base. Revenue has fallen from 3.9% to 5.78%.
Best Buy’s profits did top forecasts. But sales fell during the fourth quarter. And the company is forecasting a bigger than expected drop in sales for the first quarter.
Kohl’s (KSS) announced that it will close 18 under performing stores this year. It added that sales for all of 2016 could fall slightly from a year ago.
And Sears remains a big hot mess. The company reported earlier this month that it will close at least 50 stores. It’s no secret why.
A bit strange. Many retail expansion plans falter, many thrive.