Thank you for sharing!

Your article was successfully shared with the contacts you provided.

It looks like a rocky year ahead for department stores.The bulk of them will start reporting their quarterly earnings over the next few days, and most in the sector aren’t expecting good news…at least until some time next year. “I don’t think we are planning for a quick recovery,” J.C. Penney CEO Mike Ullman said in one article.For his part, Macy’s CEO Terry Lundgren says he doesn’t expect an improvement until the middle of 2010.A Dallas Morning News report cites a prediction that department-store sales will dive 10.8% in February, on top of January’s 11.1% drop. There is also talk in that story about how the bulk of consumers, who have been veering away from department stores toward discounters for a while, might stay away from mall anchors permanently…even after the recession.Department stores have tried a lot of strategies in efforts to compete, from launching off-mall concepts to bringing in celebrity brands. Will this work in the long run, if the economy improves, or is more pain ahead regardless?

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.