Macy's; Sears; Off-Price Sector

The numbers you need to know today 

January 5, 2018

More Store Closings: Macy's is planning to close 11 stores in early 2018, bringing the total number of stores closed since 2015 to 124. The company says the closures are part of an effort to "ensure the optimal mix of brick-and-mortar stores and digital footprint." According to eMarketer Retail's companies database, Macy's comparable sales fell 4.0% in Q3 2017.  

Speaking of Closures: Sears Holdings Corp. also announced that it's closing 64 of its Kmart stores and 39 Sears locations between early March and early April 2018. Similar to Macy's, the company is looking to align its physical store footprint and its digital capability needs. Sears' comparable sales fell 15.3% in Q3 2017, per eMarketer's companies database. 

Truck Stop: The long-running economic expansion is straining the trucking market. As of the end of 2017, the ratio of available trucks to loads needing to be shipped had reached 1.0-12.3, according to a report in The Wall Street Journal. The ratio was as low as 1.0-2.3 in February. 

Is the Off-Price Sector Losing Steam? Each year, $250 billion of apparel and footwear is sold through channels like Ross, T.J.Maxx and Burlington Coat Factory. But according to Wells Fargo analyst Ike Boruchow, sales in the off-price sector may be slowing, CNBC reports. In a statement, Boruchow said he expects TJX, Ross Stores and Burlington to see lower sales for Q4 2017, as well as into fiscal 2018.