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America's department store chains have seen their odds of defaulting escalate more than any other consumer-facing companies over the past month. In a new analysis by S&P Global Market Intelligence, the firm's median, one-year probability of default represents the odds that a company will default on its debt within the next year, based on fluctuations in a company's share price and other risk factors. That jumped to higher than 40% for some industries earlier this month. That's compared with being under 10% at the end of February. Department store operators, including Macy's and J.C. Penney, had the highest median, one-year probability of default, 42.1%, as of 7 April. Second to department store chains are hotels, resorts and cruise lines. Industries with the lowest rate of default include businesses that sell consumer staples and household products.

Full article: Department stores top list of consumer companies most likely to default on debt

More news on US department stores:

• US Department stores suspend dividends and conserve cash
• US department stores are furloughing staff
• J.C. Penney considers debt-management options
• Neiman Marcus advances bankruptcy preparations