JCPenney has debuted its Rewards and Credit Program, a free loyalty program for customers. “Last year, JCPenney announced a $1 billion reinvestment plan to further improve customer experience and operational efficiencies,” the department store chain said in a news release Wednesday (April 17). ”Now, with...
The U.S. retail industry may be on the brink of a significant transformation as department store chains Nordstrom and Macy’s consider a shift toward private-equity or hedge-fund ownership. These potential moves could have extensive implications for the retail sector, reshaping the landscape of the industry,...
As Nordstrom looks to return its full-priced banner to revenue growth, the department store chain is turning to digital technology to meet upscale shoppers’ increasing demand for convenience. The retailer announced Tuesday (Mar. 5) in its fourth quarter fiscal 2023 financial results that its premium Nordstrom banner...
With the rise of eCommerce having transformed the way consumers engage with brick-and-mortar retail, traditional department store chains such as Macy’s are forced to adapt or fall behind, and with billions on the table, it remains to be seen whether it will stay on the...
July 18, 2023
June’s retail sales report missed expectations — and it may be the case that tepid consumer spending, while still increasing, may wind up causing a buildup of inventory on merchants’ shelves. Data from the Census Bureau released Tuesday (July 18) show that during the month, retail sales were up 0.2% from May, missing the consensus of […]
May 31, 2023
Merchants are embracing smaller footprints in a greater effort to cut costs and renew customer focus. Marking a significant shift in retailer strategy, major stores determined to adapt to the...
February 22, 2023
The recovery of physical retail is also bringing new levels of innovation and experimentation to the in-store experience as the online and physical worlds meet and meld in creative ways....
May 25, 2020
The pandemic was unprecedented when it showed up in February and March; the phases of its aftermath will also be without a reference point. While it’s clear that the digital...
May 03, 2024
Sycamore Partners, a buyout equity firm that owns department store operator Belk, is reportedly among the firms interested in taking Nordstrom private. The company is engaged in negotiations that are likely to take weeks, and there is no certainty that a deal will be reached, Reuters reported Friday (May 3). Reached by PYMNTS, Sycamore Partners […]
April 17, 2024
JCPenney has debuted its Rewards and Credit Program, a free loyalty program for customers. “Last year, JCPenney announced a $1 billion reinvestment plan to further improve customer experience and operational...
March 20, 2024
The U.S. retail industry may be on the brink of a significant transformation as department store chains Nordstrom and Macy’s consider a shift toward private-equity or hedge-fund ownership. These potential...
February 27, 2024
Macy’s plans to close 150 of its stores as it focuses on its luxury brands. The department store chain made this announcement Tuesday (Feb. 27) as it released quarterly earnings, saying that the closures...
