J.C. Penney on Thursday withdrew its annual earning forecast on the heels of a weak third quarter that saw sales tumble 5.8%, missing analysts’ estimates.
A strong labor market that is boosting consumer spending helped retail sales make a comeback in October, sending a positive note to retailers as they head into the holiday shopping season.
As the holiday shopping season begins in earnest, retailers find themselves having to cope with high levels of turnover on the frontlines of their stores.