Same Season, Different Peaks
The winter holidays are the biggest season of the year for department stores, which post some of the largest Black Friday and pre-Christmas jumps of any retail category. And after a Q3 2026 in which category visits trailed last year, the stakes are especially high this season.
But the holidays don't provide an equal lift for every chain. For some, the winter holidays are the high point of the year without overshadowing the rest of the calendar; for others, summer is just a warm-up for a holiday season that towers over everything else. And across six leading chains, those that struggled most in Q3 2026 were also the ones with the biggest holiday-season opportunity still ahead of them this quarter.
Von Maur Leads Q3 Department Store Visits
Regional department store chains generally outperformed their national counterparts in Q3 2026, though results varied across both groups.
Among the three regional chains analyzed, Von Maur led with a 4.6% YoY same-store visit increase, extending the strength it showed earlier in the year as it continues to focus on a service-first model and slow, deliberate expansion. Dillard's edged up 0.4% YoY, consistent with the positive comparable sales it reported this month. Boscov's, meanwhile, saw same-store visits dip 3.6% YoY – likely due at least in part to weaker overall retail performance in its core Northeastern markets and challenges posed by the closure of malls surrounding several of its stores.
National chains saw more challenging results. Macy's posted a 0.9% gain, improving on the visit declines of the previous quarter as it continued to execute its turnaround plan. The company also reported last quarter that its Reimagine stores continue to outperform the rest of its fleet. Kohl's and JCPenney, meanwhile, saw same-store visits fall 2.6% and 3.8%, respectively – though Kohl's same-store visits returned to growth in October, likely boosted by its early-season sales events.
Holiday Surges Run Biggest at the Chains That Slipped in Q3
But the three chains that struggled most in Q3 2026 – Kohl's, JCPenney, and Boscov's – are also the ones that see the biggest holiday-season lifts, giving them a major opportunity to regain momentum in Q4.
Along with Macy's, these chains see visits surge throughout November and December, and not just on key shopping days. On an average day during the 2025 holiday season, visits ran 57.0% to 76.0% above their daily average across the rest of the year. At Von Maur and Dillard's, by comparison, the lift was a more modest 32.7% to 46.9%. The two groups have followed this pattern every year since at least 2022.
And the chains with the most to gain are pulling out all the stops to bring shoppers in. Kohl's is stacking early-access and Black Friday week events with Kohl's Cash and in-store giveaways, while JCPenney is pairing weekly deals with a pitch to ease shoppers' deal fatigue.
Macy's and Boscov's also enter the season with strengths of their own. Macy's, known for its long-running holiday traditions, closes out a year of celebrations with the 100th Thanksgiving Day Parade and a revamped Santaland at its flagship – putting the brand in the spotlight as holiday shopping begins. And Boscov's, which sees the largest holiday surge of the six, can capitalize on its loyal customer base and growing draw among younger shoppers.
Built for the Season
Across the six department store chains analyzed, last year’s holiday lift ranged from roughly a third to three-quarters above the rest of the year – with the chains that struggled most in Q3 seeing the biggest seasonal boosts. And with packed holiday calendars designed to seize on that opportunity, these chains have a chance to regain momentum during their most important shopping season.
For more data-driven retail insights, visit Placer.ai/anchor.
