(CNN Money) — It should be easier to find a parking spot at the mall these days, because consumers continue to shun department stores.
Macy’s, Kohl’s and Dillard’s all reported drops in same store sales in their latest earnings reports Thursday. Same store sales are a key measure of health for retailers that look at how well locations open for at least one year are doing. Stocks for each retailer plunged on the news.
Macy’s is now down more than 40% this year. Kohl’s has dropped nearly 25% so far in 2017. Dillard’s plummeted 15% on Thursday alone, and has now given up nearly all its gains for the year in the process.
It’s yet another sign that the rise of Amazon and resurgence of Walmart have taken a toll on many traditional retailers.
Shares of Nordstrom, which will report its latest results after the closing bell Thursday, also fell. So did J.C. Penney, which will release its earnings Friday morning. Sears Holdings and Target got whacked too.