United States: department store sales 1992-2023

In 2023, department stores in the United States generated sales of approximately 132.7 billion U.S. dollars, down from about 136 billion registered a year earlier, and the lowest total over the displayed time period, with the exception of 2020.

A struggling sector

Since the beginning of the 21st century, U.S. department store sales have been falling, despite total retail sales in the country steadily increasing. This has led to bankruptcies of several well-known companies, with the coronavirus pandemic the final straw for brands such as J.C. Penney and Neimann Marcus. Of the leading department stores only Dillard’s registered higher sales in the financial year 2023 compared to five years previously.

The leading department store

Macy’s counts as one of the companies with stagnating sales, with 2023 figures the company’s worst since 2005, again with the exception of 2020. Nevertheless, the 23 billion U.S. dollars generated that year put it as the highest earning department store, far ahead of Kohls, Nordstrom, and Dillard’s. In a 2023 ranking looking at sales in the past 12 months, Macy’s placed not just first among department stores in the U.S., but worldwide. Kohl’s followed in second place, followed by South American company, Falabella, and Lotte Shopping from Korea.