Yesterday's strong retail sales numbers confirm the fact that there is something of a party going on in retail, with consumers spending in a relatively carefree way. However, this is a party to which J.C. Penney was not invited.
With the continued success of mixed-use infill projects in urban centers across the country, it was perhaps inevitable that the format would start to expand into new environments.
Despite concerns about the growing trade war, consumers continued to spend in July — a move that contributed to the sixth consecutive month of retail sales gains.
ESL Investments, the hedge fund run by Sears Holdings Corp. chairman and CEO Eddie Lampert, has made a formal offer for one of the company’s signature brands.
