Saks Fifth Avenue news and trends

Saks Reportedly Misses Hundreds of Thousands in Vendor Payments 
Retail // August 05, 2024

Amid a merger worth $2.6 billion, Saks reportedly owes vendors hundreds of thousands. The luxury retailer, which last month announced it was merging with Neiman Marcus, has missed payments to dozens of the brands it works with, fashion industry news source Glossy reported Monday (Aug. 5). “What I don’t understand is how...

Personalized Luxury: The Key to Winning Wealthy Shoppers
Retail // July 19, 2024

In an era where luxury is becoming increasingly defined by personalization, wealthy consumers are demanding that brands innovate, tailoring their offerings to match their individual preferences. Take, for instance, luxury giant LVMH. The company’s Selective Retailing business, offering “personalized shopping experiences matched to individual aspirations,”...

Report: Barneys New York Aims to Expand Product Offerings, Distribution
Retail // July 12, 2024

Barneys New York reportedly plans to expand both its product offerings and its distribution if the planned acquisition of Neiman Marcus Group by the owner of Saks Fifth Avenue is completed. The brand, which closed its U.S. department stores after its 2019 bankruptcy and is...

Luxury Brands and Retailers Rethink Strategy Amid Economic Challenges
Retail // July 10, 2024

With the high cost of maintaining a luxury brand, key players are making major decisions, changing the way they operate to navigate the current challenging economic climate. Luxury brand Burberry, for instance, is gearing up to cut hundreds of jobs amid ongoing financial challenges, per...

Interviews & Exclusives
Trouble Ahead for Department Stores as Luxury Brands Move Direct-to-Consumer

February 12, 2024
As luxury brands increasingly find ways to create direct relationships with their customers, high-end department store chains are facing new challenges. Ralph Lauren, for its part, reported Thursday (Feb. 8) that it saw global direct-to-consumer (D2C) comparable store sales rise 9% in the third quarter of fiscal year 2024, gaining 1.7 million new D2C customers. […]

 Beyond Panera’s Loaves And Phishes, Beware The Scammers In Your Inbox

April 05, 2018
Panera and Saks grab the headlines. But amid data leaks the lures for the bad guys go far beyond the credit card number. Names, addresses and emails give ammunition for...

Quick Reads
Planned Saks Fifth Avenue-Neiman Marcus Deal Passes Regulatory Hurdle

August 21, 2024
The planned acquisition of Neiman Marcus Group (NMG) by HBC, the parent company of Saks Fifth Avenue, is one step nearer to closing. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) in connection with the transaction has expired, the luxury retail companies said in a Wednesday (Aug. 21) press release. “The expiration of the […]

Saks Reportedly Misses Hundreds of Thousands in Vendor Payments 

August 05, 2024
Amid a merger worth $2.6 billion, Saks reportedly owes vendors hundreds of thousands. The luxury retailer, which last month announced it was merging with Neiman Marcus, has missed payments to dozens of the brands it works with,...

Report: Barneys New York Aims to Expand Product Offerings, Distribution

July 12, 2024
Barneys New York reportedly plans to expand both its product offerings and its distribution if the planned acquisition of Neiman Marcus Group by the owner of Saks Fifth Avenue is...

Saks eCommerce Chief: Amazon Can Boost Success of Neiman Merger

July 05, 2024
When Saks Fifth Avenue and Neiman Marcus merge, Amazon’s tech will help them thrive. That’s according to Marc Metrick, CEO of Saks’ online operations, speaking to Bloomberg News Thursday (July 4). This was one day after Saks announced it...