In February, Macy's says it will close 125 stores as it embarks on its Polaris turnaround strategy and suffers the first of several downgrades. Macy's is dropped from the S&P 500 in April.
Green Street in April says the disease outbreak contracted a five-to 10-year trend of department stores exiting as mall anchors to the point where a little more than half of U.S. mall-based department stores could close for good by the end of 2021.
J.C. Penney files for bankruptcy.
Neiman Marcus files for bankruptcy and exits fairly quickly. The company won't reopen its Hudson Yards store and six other locations nationwide. Earlier the company closed almost all off-price Last Call stores to focus on luxury.
Lord & Taylor files for bankruptcy and, liquidates all stores.
Stage Stores files for bankruptcy, with plans to liquidate.
Stein Mart files for bankruptcy.
Forbes reports that Belk can't pay vendors.
Macy's says it will lay off nearly 4,000 corporate employees and reduces its Thanksgiving Day parade to a television-only event in Herald Square in place of its traditional blocks-long procession.
Nordstrom says it will permanently close 16 full-line stores and its three Jeffrey specialty stores.
When Kohl's is dropped from the S&P 500 in September, as the number of department stores listed on that stock market index fell to zero.After Kohl's was ejected, online marketplace Etsy was added to the S&P500.
Wednesday, October 14, 2020
Department stores in 2020 are collapsing
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