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Department Store Diss?

If department stores are irrelevant, why are they still doing relatively well?

By Debra Hazel | Updated on November 05, 2013

Less than two weeks ago, retail legend Les Wexner called department stores “irrelevant.” This week, JCPenney CEO Myron Ullman says his troubled company may post positive same-store sales comps for the first time in ages.

Contradiction? Wexner made his remarks at his company’s recent investor conference presentation. In addition to noting the expansion of La Senza into the United States and the growth of Victoria’s Secret, Pink and Bath & Body Works overseas, Wexner just had to dismiss the larger format stores—and even the malls that house his own shops.

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