Stein Mart
This discount department store based in Jacksonville has been struggling with its sales but is seeing some light in the proverbial tunnel! Stein Mart has managed to put some balance in their sales and their digital revenue has increased by 47 percent in the latter half of 2017. The company did report a $23.4 million bottom-line loss for the year but has further added that the loss was decreased by 10 percent. It looks like there is no need to worry about our favorite discount store! The store did announce earlier this year that they have sought the help of some advisors to find viable solutions to their problems. According to RetailDive, in March, Stein Mart even closed on a $50 million term loan which they could increase. However, another company, JC Penney, doesn’t seem to have the same promising future as Stein Mart.
Stein Mart
JC Penney
This department store isn’t doing very well although it has better performance than Sears. The store has laid off 1,000 employees as well as closed a distribution center in 2018. Its top-line sales fell 0.3 percent with a $116 million net income in 2017. RetailDive reported that the company is having difficulty in reverting things back to better times. One big factor in their struggle is its $4.2 billion debt. According to RetailDive, JC Penney investors are becoming more and more impatient with the slow progress. The company has also made changes to its lineup of executives including its CEO. In May 2018, Marvin Ellison left his position as the chairman of the board to lead Lowe’s. Maybe they should also consider changing what they offer like Office Depot?
JC Penney
