JPMorgan's Matthew Boss On Retail Earnings: 'Worst Week For Department Store

How bad has earnings season been for retailers and department stores? According to JPMorgan's Matthew Boss the answer is concerning for investors who hold positions in some of names. Speaking to CNBC during Friday's edition of

Boss said that earnings for the group haven't been this bad since the 2008 financial crisis. "I think the department store sector is losing a degree of relevance," he said. "I do think the consumer is also finding more convenient ways to shop and are looking for value." Boss continued that department stores are not delivering on these 2 key criteria. Meanwhile, the analyst is expecting off-price retailers to report a "completely different picture" in their earnings reports next week. On the other hand, J. Rogers Kniffen Worldwide Enterprises' CEO Jan Kniffen also pointed out during the segment that

reported a better than expected loss but a worse than expected revenue print. Related Link:

Kniffen continued that "there is nothing wrong with the consumer" as retail and department store customers continue working at higher wages while boasting a "good attitude." However, the consumer is spending their money on experiences, cars and homes - just not at the department stores.