Retail Sales Paint A Tough Picture for Department Stores -- Market Talk

Dow Jones04-16

1253 ET - March retail sales numbers are clouding an already-stormy picture for department stores. Department store retail sales were down 1.1% sequentially and 2.5% compared to a year earlier. Sales in the category were down 0.4% sequentially in the previous month, suggesting consumers are pulling back at retailers like Nordstrom, Macy's and Dillard's even more. Analysts have been looking for comparable sales declines to ease at department stores after sharp declines in the last year. Macy's and Dillard's shares are both down over 2%, while Nordstrom shares fall over 5%. (ben.glickman@wsj.com; @benglickman)

(END) Dow Jones Newswires

April 15, 2024 12:53 ET (16:53 GMT)

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