But just because they're down doesn't mean they're out; for proof, just take a look at Best Buy's first-quarter earnings results.
Despite ongoing weakness in the tablet space and a 5 percent sales decline in the consumer electronics category, domestic revenue at the chain rose 1.4 percent during the period, on top of same-store sales growth of 0.6 percent. The results sent the company's stock 5 percent higher in afternoon trading, pushing its shares up 42 percent over the past 12 months.
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It's a far cry from the days when investors worried that the electronics store's business was next in line to be wiped out by Amazon's low prices and the convenience of online shopping.
"Throughout the quarter, our strategy of delivering 'advice, service and convenience at competitive prices' continued to resonate with our customers," CEO Hubert Joly said.
Here are three other retailers that are making strides in their transformations. ( Tweet this. )