J.C. Penney, Macy’s and other department stores don’t have many more seasons left for a turnaround, analyst says

Macy's, Penney, rival department stores running out of seasons for turnarounds

On Thursday, both retailers reported same-store sales declines during the important holiday shopping season, and both retailers saw their shares sink as a result.

For one thing, stores could simply get a bit more into the Christmas spirit. In notes following the Macy’s and J.C. Penney announcements, GlobalData Retail Managing Director Neil Saunders leveled the same criticism at both retailers: stores weren’t jolly. “Most legacy stores, of which Macy’s has a very long tail, looked shabby and lacked festive cheer,” Saunders said. “In our view, they remain unfit for purpose and there is a big question mark over their long-term future.”Don’t miss: Target is taking the market share in women’s clothing that Kohl’s is losing

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