Grim news continues to roll in for mall-based retailers, with several companies reporting declines in a key sales metric over the holiday period despite a broader rise in consumer spending.
The Woodland Hills grocery store will be different from Amazon’s Whole Foods stores but won’t use the high-tech Amazon Go checkout system.
The company had stressed the importance of promotions and partnerships, like serving as a drop-off point for Amazon returns, in attracting customers over the holiday period.The owner of Victoria’s Secret also posted negative results, a sign its efforts to shift its marketing approach haven’t been enough.
J.C. Penney reaffirmed its forecast for a full-year adjusted comparable-store sales decline of 5% to 6%. The company is scheduled to report earnings on Feb. 27. The shares fell as much as 13% and finished down 10.8% at $1.07.
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