Department Store

Plano, Texas -- J.C. Penney Co. reported a deeper-than-expected loss of $348 million for its first quarter, compared to $163 million in the year-ago period, amid a 16.4% decline in revenue. The results came as the company seeks to undo the damage caused by former CEO Ron Johnson’s costly and largely failed makeover.

SEATTLE — Nordstrom reported its first quarter net income fell a greater-than-expected 3%, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest. The company also lowered its full-year sales forecast.

The results were a rare miss for the upscale department store chain whose shoppers have proved resilient throughout the uncertain economy.

Seattle -- Nordstrom Inc. reported its first quarter net income fell a greater-than-expected 3%, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest. The company also lowered its full-year sales forecast.

The results were a rare miss for the upscale department store chain whose shoppers have proved resilient throughout the uncertain economy.

PLANO, Texas — J.C. Penney reported a deeper-than-expected loss of $348 million for its first quarter, compared to $163 million in the year-ago period, amid a 16.4% decline in revenue. The results came as the company seeks to undo the damage caused by former CEO Ron Johnson’s costly and largely failed makeover.

San Diego -- Despite being the most tech-savvy generation in history, Generation Y, the 80-million strong cohort of Americans between the ages of 18 and 35, has not forsaken shopping in stores for online purchasing – as long as retailers keep their offerings "fresh" and interesting, according to a new report from the Urban Land Institute (ULI).

Kohl's Corp. reported a 5% drop in first-quarter profit on weak sales due to unseasonably cold weather in large parts of the United States.

Kohl's net income fell to $147 million in the quarter ended May 4, down from $154 million a year earlier.

Sales fell 1% to $4.2 billion. Comparable-store sales fell 1.9%.

Simpsonville, Ky. -- Following on the heels of successful outlet projects in Atlanta and Oklahoma City, CBL & Associates Properties and Horizon Group Properties announced another joint venture – to co-develop The Outlet Shoppes at Louisville, in Simpsonville, Ky.

New York -- The Deloitte Consumer Spending Index (Index) dipped slightly in April, primarily due to an increase in the tax rate, while other economic fundamentals remain steady. The Index tracks consumer cash flow as an indicator of future consumer spending.