JCPenney Co.

When it comes to holiday inventory, most retailers use their intuition and industry knowledge to make their sales projections, plan their promotional calendar, and schedule product reorders. This was fine when the season’s promotions were merely percentages off and customers purchased products in stores. But as the retail world becomes more complex, so too must retailers’ holiday plans. With an estimated 40% of retailers’ yearly profits on the line, intuition this holiday season just isn’t enough.  

The South Plains Mall in Lubbock, a dominant retail center in the Texas Panhandle for 40 years, this week unveils a series of updates for customers.   The Macerich-owned mall has redesigned all three of its entrances, added new flooring and lighting throughout the building, and introduced amenities including center-wide Wi-Fi, charging stations, soft seating, and new restrooms.  

Neil Saunders, CEO of retail insights and consulting firm Conlumino, comments on J.C. Penney’s results for the third quarter in which sales came in under forecasts.   “After a good run of growth, J.C. Penney has faltered this quarter with both total and comparable sales slipping into negative territory. While the company is now overlapping some tougher prior year comparatives, this is nonetheless a disappointing outcome that takes the shine off some of the recent progress made under its recovery program.  

Weakness in apparel helped make for a disappointing third quarter for J.C. Penney Co. as the retailer cuts its forecast amid sliding sales.   On the positive side, Penney said sales trends improved in October, fueled by increasing momentum behind its new appliance business.  

J.C. Penney will celebrate Thanksgiving with an all-night shopping spree — complete with new shopping carts.    The retailer will open at 3 p.m. on Thanksgiving, similar to last year, and remain open until Friday, Nov. 25 at 10 p.m. Online shoppers will get a jump on holiday deals, with Penney’s Black Friday sale prices available online the day before, starting at midnight Nov. 23.  

The nation’s largest specialty toy retailer isn’t worried about any so-called Thanksgiving backlash.   Toys “R” Us announced plans to open its doors at 5 p.m. on Thanksgiving — and keep them open (in nearly all locations) for 30 hours straight, closing them at 11 p.m. on Friday, Nov. 25. It’s the fourth consecutive year the chain has opened at 5 p.m. on the holiday.   

Holiday spending is expected to spike by a solid 4%.   That’s according to the “2016 Holiday Season Forecast,” an annual report from investment firm JLL that is based on responses from 2,800 shoppers across 31 shopping centers.