Department Stores Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 7/22/2024
SIC Codes: 5311
NAICS Codes: 4551, 45511
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Department Stores Industry Profile

Companies in this industry operate physical retail establishments that sell items such as clothing, cosmetics, footwear, and home furnishings, typically from registers within individual departments. Major companies include JCPenney, Macy's, and Sears (all based in the US), as well as Debenhams and Marks & Spencer (UK), El Corte Ingles (Spain), Galeria Kaufhof (Germany), Galeries Lafayette (France), Hudson's Bay Co (Canada), and Isetan Mitsukoshi (Japan).

While department store sales historically have been strongest in Europe, Japan, and the US, growth in these markets is declining amid increasing sales in China, Lating America, and the Asia-Pacific region. The global department store sales are forecast to reach a market size of $3.6 trillion by 2026, an increase of over one trillion dollars from 2021 figures, according to Statista.

The US department store industry includes about 4,500 stores with a combined annual revenue of about $70 billion.

Department stores differ from discount department stores, such as Walmart and Target, in that most department stores have checkout registers within individual merchandise departments instead of a central checkout area. A separate Discount Department Stores profile covers that industry.


Technology and changing shopping preferences, particularly among younger consumers, are disrupting the retail industry. Online giant Amazon has surpassed Walmart as the biggest apparel retailer in the US, according to a CNBC report. Department stores also face competition from other digital retail platforms, such as YouTube, that offer ...

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