Another Rough Year for US Department Stores

With only a couple of months left in 2024, American department stores are hoping to offset the rough year they have had so far with the upcoming holiday sales. Macy’s is planning to shut down another 50 stores in the next three years. Nordstrom, JC Penney, Kohls, and Neiman Marcus are all going through either internal restructuring or brand overhauls in an effort to stave off their decline and lure Gen Z consumers.

Discounters and off-price retailers like Dillards and TJX are booming with younger generations, and growing net sales at healthy rates.

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