With profits, sales and stock prices declining for many retailers last year, executive compensation for the industry took a hit.

A study of major retailers from Korn Ferry found 73 percent paid little to no bonuses to senior executives in 2017 for 2016 performance. Of those surveyed, 35 percent paid no bonus and 38 percent paid only small bonuses to their executives.

Only 15 percent of the retailers paid senior executives their target or above bonus amount in 2017.

The study of 40 major North American retailers also found a descending rate in those receiving bonuses. Compared to the 35 percent receiving no bonuses in 2016, 25 percent went without a bonus in both 2016 and 2015, 11 percent in 2014 and 10 percent in 2013.

“Bonuses are typically tied to the performance of the retailer,…