Tag: department stores

February 17, 2023

Neiman Marcus’s CEO recently made a statement about the type of customer that the luxury department store operator wants to attract. Some sales staff believe he is putting out the wrong vibe, which might end up hurting the retailer. Geoffroy […]

July 19, 2022

The latest “Saks Luxury Pulse” survey finds higher-income consumers continuing to spend on luxury despite record inflation and a plunging stock market. According to the survey of over 2,100 U.S. consumers fielded between May 24 to 27: Seventy-six percent with […]

November 23, 2021

U.S. retailers have experienced a rash of highly orchestrated and alarming smash-and-grab thefts recently, notably in California’s Bay Area and Chicago. Around 80 looters flooded a Nordstrom location in Walnut Creek, CA, on Saturday, stealing armfuls of merchandise and attacking […]

November 19, 2021

Macy’s plans to launch a curated online marketplace that will recruit “carefully selected” third parties to sell their products on macys.com and bloomingdales.com. The platform will launch in the second half of 2022. Jeff Gennette, chairman and chief executive officer […]

November 1, 2021

Just when retailers thought their imperative was to combine their e-commerce and stores into one, smooth, silo-free operation, along comes Saks Fifth Avenue, attracting hundreds of millions of dollars from investors after splitting them apart. In a series of conversations, […]

October 20, 2021

The lure of high valuation, standalone digital businesses is leading some retailers in a new strategic direction. While most sales come through stores, online is accelerating because of shopping trends begun at the onset of the pandemic. The challenges of […]

June 4, 2021

Hudson’s Bay, Lands’ End and United Natural Foods (UNFI) all recently launched online marketplaces. Saks.com, too, is exploring one. Hudson’s Bay said its launch is part of its digital-first strategic evolution. The Canadian-based department store retailer wrote in a statement, […]

December 2, 2020

Goodbye J.C. Penney. Hello Kohl’s. That’s one of the takeaways from yesterday’s announcement that Sephora and Kohl’s have reached a long-term deal to open co-marketed beauty product shops in 200 Kohl’s by next fall with an ongoing rollout that will […]

November 3, 2020

For the first time since 1861, Santa will not be greeting kids at Macy’s New York City flagship due to the novel coronavirus pandemic. The department store giant, which had a starring role in the 1947 classic film, “Miracle on […]

October 29, 2020

J.C. Penney has entered into a purchase agreement with Brookfield Property Partners and Simon Property Group and a group of first lien lenders to acquire the company’s assets. The department store retailer said it expects the deal to be finalized […]

September 10, 2020

J.C. Penney announced yesterday that it has reached an agreement in principle with two of its landlords on a near eleventh-hour deal that will help the company avoid liquidating its business, saving about 70,000 jobs in the process. Simon Property […]

September 1, 2020

An attorney representing the bankrupt department store chain, Joshua Sussberg of Kirkland & Ellis LLP, said that negotiations between the retailer and Authentic Brands Group, Simon Property Group and Brookfield Property Partners hit a wall this weekend. That means Penney […]

August 27, 2020

What is going to happen to America’s dead malls? That’s a million-dollar question plaguing retailers and real estate developers. With a report circulating earlier this month that the biggest U.S. mall owner Simon Property Group has been in talks with […]

August 24, 2020

This coming holiday season is expected to see the earliest promotions ever, although many of the reasons are tied to the pandemic rather than getting a jump on the competition. Target plans to start holiday promotions in October to support […]

August 10, 2020

Amazon is reportedly in talks to buy up shuttered JC Penney and Sears department stores across the US and convert them into fulfilment centres. Simon Property Group, one of the US’ largest mall operators, is in talks with the ecommerce […]

August 3, 2020

On Friday, Westfield Valley Fair, the Bay Area’s largest mall, opened an open-air pop-up market in front of Bloomingdale’s. The pop-up tents arrive as many enclosed malls, including those across California, remain closed as a preventive measure against the spread […]

June 17, 2020

J.C. Penney is facing a deadline that it may not be able to meet. The department store operator, which filed for bankruptcy in May, is at risk of running out of cash by July 15 if something dramatic doesn’t happen […]

May 18, 2020

J.C. Penney entered bankruptcy proceedings with a sense of urgency, setting a deadline of July 15 to secure support from lenders on a reorganization plan or pivot to pursuit of a sale to avoid liquidation. The bankruptcy was expected as […]

May 8, 2020

Not too long ago, malls were evolving formats to stay relevant and inspire a sense of community and excitement through experience. One of the truest examples was American Dream in East Rutherford, New Jersey, a 3 million-square-foot mall-meets-amusement park which […]

March 27, 2020

Many retailers and brands have begun to ramp up e-commerce promotions, frequently with big discounts, in efforts to connect with customers and drive sales during a time of unprecedented uncertainty. With customers just as unconfident about their futures as retailers, […]