by Sheraz Mian
Friday the 13th may have negative historical connotations, but we have no reason to change our daily routines. Unless, of course, our livelihoods are directly tied to the traditional brick-and-mortar retail space, particularly department stores.
The pain in the department store space is widespread, with J.C. Penney (JCP) becoming the latest operator to come out weak numbers. Penney’s has been somewhat of a turnaround story, but even supposedly better placed players like Macy’s (M), Nordstrom (JWN), Kohl’s (KSS) and others appear to be on their knees this earnings season.
Apparel is apparently the weakest category for these operators, with management teams appearing clueless as to what has happened to apparel demand.