Department store holiday sales are ‘worst’ since recession

Department store holiday sales are ‘worst’ since recession

Over the critical holiday shopping season, retail stores had a very lackluster performance even as holiday spending in the U.S. rose by 4%. Experts say the poor sales results for large department stores are due to their reliance on in-store revenue. As online shopping continues to grow every year, these well-known stores such as Macy’s, Target and Sears have struggled to adapt to the changing trends of how people buy merchandise, especially during the holiday season. Because of the decline in sales, Macy’s and Sears are collectively closing more than 200 stores. For many in the retail business, it feels as if we are still in the worst days of the recession.

 

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