United States government data just confirmed that the Sears Holdings Corp., Macy’s Inc.,and J.C. Penny Co. holiday sales are aweek. The nation’s conventional department stores are gradually losing ground to their online competitors. According to a report, the United States retailers have observed a 4.4 percent increase in the sales on an unadjusted basis from a year earlier.The breakdown-displayed purchases at department stores fell 7.2 percent, marking the 23rd uninterrupted month of year-over-year declines in the beleaguered sector. Including catalog and internet purchases standing, in contrast, are non-store retailers’ sales. The 10.4 percent gain that represents the sixth month of the double-digit gains previous year helped pace the overall advances. According to a report e-commerce sales in the third quarter accounted for 8.4 percent of all trade sales that include the spending on cars to restaurant mealsto clothing.
Macy’s included many other US based retailers have announced plans to cut 10,000 jobs and close down 68 stores following the sluggish sales report. Meanwhile upmarket retailer Neiman Marcus Group last week removed its plan to go public amid declining sales. The labor market is also evident of the shift towards the electronic shift.