It’s not all bad news in the retail industry.
Even as rising wages have helped prop up consumer spending, these are trying times for many of the industry’s most powerful brands.
In malls across the country, shrinking sales have produced deeper losses and a historic wave of layoffs.
On Friday, J.C. Penney said losses widened in the first three months of 2017 to $180 million. The report came a day after Macy’s reported that profits continue to spiral downward, dropping 38 percent in the latest quarter compared with a year ago. In February, Macy’s raised its ongoing store closing plans to include about 100 locations as it struggles to stay afloat.
But while the outlook for department stores appears bleak, there are major retail sectors that are seeing brisk growth as American consumer spending continues to undergo a major transition.
The biggest winner, of course, is the “nonstore” category that includes online retailers like…