“We are not pleased with the third-quarter results and are focused on aggressively addressing operational issues," the struggling retailer says.
“The mall is getting more toxic," one analyst warns. "Mall traffic will likely continue to wane over the years ahead.”
The ailing retailer's third-quarter results gave investors “some hope” that its turnaround efforts are “gaining traction.”
Comparable store sales at Kate Spade, which Tapestry acquired in 2017, dropped 16% in the first quarter.
The pizza-delivery giant has been repurchasing shares as sales growth has slowed amid competition from third-party apps.
The luxury jeweler lost six selling days in its fourth-largest market during the second quarter because of pro-democracy protests.
Same-store sales improved in the second quarter but profit was hit by heavy markdowns to clear unsold merchandise.
"Walmart is now a major competitive force in e-commerce and is capable of capturing shopper share from Amazon and others.”
The coffee chain posts a third straight quarter of accelerating sales growth, indicating its streamlining efforts are paying off.
"The rising tide of the economy is not floating all retail boats,” an analyst says of the department store chains' disappointing sales growth.
Darden's "back to the basics" strategy boosted its Olive Garden brand but Cheddar's Scratch Kitchen continues to struggle.
While Lowe's is streamlining its business, it "still has to address its status as a second-fiddle retailer."
