Stein Mart
Stein Mart is a discount department store based in Jacksonville. It has been dealing with sales issues, but there is light in the tunnel for it. The company was able to put balance back in the sales and improve the digital revenue by 47 percent during the second half of 2017. While the company reported a bottom-line loss of $23.4 million for the year, it said that the loss eventually went down by 10 percent. There is no need to worry about your favorite discount store because it is here to stay. The store announced that they asked advisors for help with their problems. RetailDive said that Stein Mart managed to get a $50 million loan that they could still increase. What a relief it is to hear that they are now out of trouble!
Stein Mart
JC Penney
JC Penney is not doing all that well, but it is still performing better than Sears. In 2018, the store needed to lay off a thousand employees and shut down a distribution center. The top-line sales went down by 0.3% on a net income of $116 million in 2017. RetailDive said that it is struggling to revert things to the way they used to be. A big factor would be its staggering debt of $4.2 billion. According to Retail Dive, the investors are starting to feel more impatient with the lack of progress. Anther measure the company took was to change the executive lineup. In May 2018, the chairman of the board Marvin Ellison left the position to lead Lowe’s instead. We cannot help but wonder what the future has in store for JC Penney.
JC Penney
