US department store industry overall performance picks up

According to Wall Street forecasts, US department store retailers seem to be about to bottom out. According to Thomson Reuters data, retail company Penny should be able to show a good score of 5.8%, and Nordstrom will increase by 3.2%. Even Sears, who is struggling for a long time, is expected to achieve a 1% comparable sales growth. In recent years, the overall sales performance of US department stores has shown a downward trend. According to data released by the US Department of Commerce, the peak sales of the US retail industry dates back to $232.5 billion in 2000, compared with $179.7 billion in 2012. In the second quarter of this year, the sales performance of department stores fell by 0.5% year-on-year. Some analysts believe that Penny's return from last year's dilemma shows that the surviving department stores are becoming full of vigor. In the case of Coach, the high-end handbag manufacturer has gradually fallen out of favor with consumers in the United States, prompting it to close 20% of its stores this year, reversing the trend that the company has been opening new stores in recent years. Coach will in turn rely more on department stores like Messi and Nordstrom to capitalize on the traffic they attract. As Coach doubles the bet on 12 top North American markets, Coach will also use 810 Messi brand stores to reach consumers as the market narrows.

Independent retail analyst Mary Drescor said, "We are beginning to see that the department store has created a creative card, which is gratifying. The situation has reversed and it should be worth seeing."