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The holiday season cast further doubt over whether department stores can survive in a new age of retail

The holiday season cast further doubt over whether department stores can survive in a new age of retail
AP Photo/Elaine Thompson



Macy's, JCPenney, and Kohl's reported weaker-than-expected sales results for the holidays, sending their stock prices down sharply and casting doubt over whether these stores can thrive in a new era of retail.




Macy's said that same-store sales, including licensed departments, were up 1.1% during November and December. It lowered its sales growth and profit forecasts for the year.




Meanwhile, Amazon announced record-breaking sales for the holiday season.



Department stores apparently didn't have customers biting this holiday shopping season.
This week, Macy's, JCPenney, and Kohl's all reported weaker-than-expected sales results for the holidays, sending their stock prices down sharply and casting doubt over whether department stores can thrive in a new era of retail dominated by Amazon.
"The holiday season began strong — particularly during Black Friday and the following Cyber Week, but weakened in the mid-December period and did not return to expected patterns until the week of Christmas," Macy's CEO Jeff Gennette said in a statement to the press on Thursday.
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