US department stores continue to struggle, with Macy's, Kohl's and Nordstrom posting sales declines, though TJX Companies leads apparel with 4 per cent growth and 3,660 stores. Ross and Burlington thrive in value apparel. Kantar's Marcotte highlights growing Gen Z interest in mall retail driven by Japanese trends—though its sustainability may hinge on tariff impacts. \n\n US department stores remain under pressure, with most players in decline, according to the National Retail Federation’s (NRF) 2025 Top 100 Retailers list compiled by Kantar.\n\nUS department stores continue to struggle, with Macy's, Kohl's and Nordstrom posting sales declines, though TJX Companies leads apparel with 4 per cent growth and 3,660 stores. Ross and Burlington thrive in value apparel. Kantar's Marcotte highlights growing Gen Z interest in mall retail driven by Japanese trends—though its sustainability may hinge on tariff impacts. \n\n Dillard’s (No. 68) stands as the category’s strongest performer despite a soft year, while Nordstrom—now 49.9 per cent owned by Mexican retail giant El Puerto de Liverpool—remains a retailer to watch.\n\n Macy’s (No. 24) saw a 3 per cent decline in US sales to $22.21 billion and a 2 per cent drop in comparable store sales. Kohl’s (No. 31) posted an even steeper slide, with US sales down 7 per cent and comparable store sales off 6.5 per cent.\n\n In contrast, TJX Companies (No. 15) strengthened its lead in the apparel and jewellery segment, reporting 4 per cent growth in US sales to $43.56 billion and a 4 per cent gain in comp store sales. The retailer also grew its US store base by 3.1 per cent to 3,660 locations, NRF said in a release.\n\n Ross Stores (No. 25) and Burlington (No. 47) continue to thrive within the value apparel segment, both recognised as Power Players—retailers whose 2024 US sales were equal to or greater than 10 per cent of the category leader’s.\n\n “The broad variety of apparel options — either from source manufacturers or discontinued and clearance items — continues to support the growth of the discount trade. The additional sophistication of systems to manage a widely divergent procurement stream has led to the continued success of T.J.Maxx, Ross and Burlington. The emergence of Shein and Temu has led to strong shopper engagement from the very different fast fashion shopper,” said David Marcotte, senior vice president of global retail and technology for Kantar.\n\n Walmart retained its No. 1 position overall, followed by Amazon, Costco, Kroger and The Home Depot. The NRF’s annual ranking highlights category-specific power dynamics, spotlighting key players shaping retail’s shifting landscape.\n\n Retail inside malls is attempting a comeback, fuelled by a real estate push to make these spaces more engaging and experiential—particularly for Gen Z shoppers. Japanese products are helping lure younger consumers back to malls, Marcotte noted.\n\n “And that’s something I’ll be looking at next year, to see if it sticks. Because so much of that is impacted by tariffs,” he said.

US department stores struggle, pressure mounts: NRF

The National Retail Federation’s 2025 Top 100 Retailers list highlights continued struggles for US department stores, with Macy's, Kohl's, and Nordstrom reporting sales declines. TJX Companies leads apparel growth with 4% sales increases, while Ross and Burlington thrive in value apparel. Gen Z interest in mall retail, influenced by Japanese trends, is growing but faces sustainability risks due to tariffs. Nordstrom’s 49.9% Mexican ownership by El Puerto de Liverpool and Walmart’s continued dominance in retail rankings are key highlights.