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Retail's Old Guard Lives; After Years of Eroding Business, Department Stores Stage a Comeback
From:
The Washington Post
| Date:
November 11, 2006| Author:
Ylan Q. Mui - Washington Post Staff Writer
| Copyright 2006 The Washington Post. This material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post.Copyright information
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Every holiday season needs a comeback story. This year, the honor
goes to the long-suffering department store.
For the past two months, department stores have basked in strong
sales growth after years of sluggish -- and occasionally downright
miserable -- performance. It began with a strong back-to-school
season that outpaced all other retail sectors in sales growth.
Momentum built in October, with department stores again in the lead.
And now industry experts expect them to be amon...
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; NEW YORK -- May came in first, but it was hardly a win. Faced with its own specific challenges, as well as others endemic to department stores and retailing in general, May Department Stores Co. reported that profits declined 12.3 percent in the second quarter ended July 29 as it became the first
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