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From Department Store Struggles to Bankruptcy Pressures — How Shoe Companies Fared in Q4

Even as retail evolves and more firms find effective strategies to thrive in a disruption-prone landscape, evidence continues to suggest that many of the sector’s challenges won’t diminish overnight.
Fourth-quarter earnings reports over the past two months have revealed industrywide struggles — with companies like Steven Madden Ltd. and Iconix Brands Group shouldering Chapter 11 filings of partners Payless ShoeSource and Sears Holdings, respectively. At the same, shortfalls at firms such as JCPenney, which has grappled with relevance and sluggish trends for years, were indicative of both company-specific struggles as well as the drawn-out battle for beleaguered department stores amid unprecedented digital competition.
Department Store Dilemmas
Perhaps unsurprisingly, JCPenney announced in February its plans to close 27 more stores in conjunction with another round of slumping sales and earnings. Its Q4 sales were down 10 percent to $3.67 billion, missing the $3.79 billion analysts had predicted. Adjusted profits also took a tumble, sinking more than 60 percent over the comparable period to $57 million, or 18 cents per share, but were better than the 11 cents per share market watchers projected.
Its peers Macy’s and Nordstrom — which had both fared better than JCPenney at the height of the so-called retail apocalypse (especially Nordstrom)

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Via:: https://footwearnews.com/2019/business/earnings/department-stores-bankruptcy-q4-2019-earnings-shoe-companies-1202766103/