| Saks Global to shutter 9 full-line stores [RetailDive] Saks Fifth Avenue is taking the brunt of the plans, with eight stores on the list. The company told a bankruptcy court further closures may be necessary.
Gen Z is nostalgic for 2016 amid economic unease. Mall brands like Abercrombie & Fitch may see a revival [CNBC] Gen Z is romanticizing 2016, a period many associate with a stronger economy and lighter cultural mood. Experts say nostalgia is functioning as a form of risk aversion, as consumers gravitate toward brands that feel familiar amid economic uncertainty.
Fashion Briefing: At NYFW, fashion brands are embracing department stores — even the embattled Saks Global [Glossy] The American department store’s reputation has taken a beating in the last year. The high-profile bankruptcy of Saks Global, along with struggling foot traffic at department stores like Neiman Marcus, has made the prospect of wholesale via this channel a tougher sell.
Copley Place to fill Neiman Marcus space with restaurants, luxury boutiques [Chain Store Age] Simon Property Group has announced plans for a redevelopment of the current Neiman Marcus space at Copley Place, the mixed-use property located in the city’s affluent Back Bay neighborhood. |