At the best of times, many retailers were struggling to gain any footing with customers, but now it is even more difficult to survive.
Innovative store concepts are buying some time, but brands like Macy’s and J.C. Penney need a lot more to reverse the falloff in sales.
The company plans to expand its platform to offer resale services to retailers, and recently announced partnerships with Macy’s and J.C. Penney.
J.C. Penney, Gibson Brands, Russell Investments, Cobham Advanced Electronic, Wag!, Westwood, Sentry Data, Revolution Foods, Powell Industries, AbbVie
J.C. Penney has moved from "buying to store capacity" to "buying and chasing" into demonstrated sales trends, says CFO Jeffrey Davis.
The retailer's results were sharply lower than rivals Macy's and Kohl's, and a downbeat full-year profit forecast added to investors' concerns.
Penney's surprising 1.7% gain in same-store sales indicates its "strategy of purging excess inventory and closing underperforming stores" is paying off.
The struggling retailer now projects a loss of between 40 cents to 45 cents a share due to clearance of apparel inventory.
The retailer's loss widens to $62 million but CEO Marvin Ellison sees the 1.5% increase in sales and the improved performance of apparel as positive signs.
U.S. Steel, Darden Restaurants, TrueGreen, J.C. Penney, Ellucian, Applied Materials, Citrix Systems, Dewberry, The Buckle, Vera Bradley, Gilsbar
The hiring of Jeffrey Davis, former finance chief at Darden Restaurants, comes in the wake of Edward Record's resignation earlier this month.
Twitter, J.C. Penney, State Street, Avery Dennison, Lexmark, AAR, Alexander & Baldwin, Marin Software, ITC Holdings
