TJX Cos Inc posted its worst quarterly same-store sales performance since 2009, as its fashion apparel failed to click with customers and fewer people bought winter clothes in an unusually hot fall season.
In an effort to meet consumer demand for immediate product deliveries, Nordstrom is launching 24/7 curbside pickup at ten stores over the holidays in a move designed to compete more aggressively with Amazon.
Shares rose thanks to third-quarter sales exceeding analyst expectations, but the company slashed its full-year sales and profit forecast due to heavy apparel discounting amid an overhaul of its women’s section.
Vendors who work with the retailers and consultants who advise big department stores say this year chains are much slower in placing new orders for the holidays, as they deal with declining foot traffic.
Barneys New York is the latest fashion retailer to jump on the upcycling trend.The department store has teamed up with new sustainable fashion brand BYT to sell a series of jackets created from repurposed waste product.