The Business of FashionAgenda-setting intelligence analysis and advice for the global fashion community access one complimentary BoF Professional article of your choice Receive news, offers and invites from BoFOur newsletters may include 3rd-party advertising, by subscribing you agree to the Terms and Conditions & Privacy Policy When Saks Global announced its partnership with Amazon this week to open a new storefront on the long-fledgling Amazon Luxury Stores platform It was inevitable that the e-commerce behemoth and department store chain would come together Amazon helped finance Saks Fifth Avenue’s $2.7 billion merger with Neiman Marcus Group Authentic Brands Group and the holders of $2.2 billion worth of bonds that the retailer issued in December But Saks revealed the news amid a barrage of headlines about its tumbling bond prices including the potential sale of some of its real estate assets and raising up to $350 million in new debt The concerns around the viability of the business were not assuaged; Saks Global Enterprises’ bonds sank another 10 percent Tuesday though it has since recovered from that dip It now trades at about 62 cents on the dollar The fact that the bonds have lost more than a third of their value reflects falling confidence among investors that Saks would be able to make interest payments the first of which is due at the end of June the market has signalled that Saks is in a precarious cash situation On top of interest, the retailer has begun making payments to vendors as promised in a February letter to brands outlining a plan to pay back late and missed invoices over the last two years Vendors with overdue payments from Saks can expect monthly checks starting in less than two months “We are actively managing liquidity with rigour to drive results,” Saks Global told The Business of Fashion in a written statement “We have approximately $400 million of liquidity and are working diligently to ensure we have the capital needed to meet our financial obligations invest in our transformation and operate our business.” But taking on further leverage is not a good sign for Saks — especially not in the form of what’s known as a “first in which is the specific type of financing that Saks is deliberating “A FILO is known as a last-ditch effort,” said David Tawil president of Prochain Capital and an expert on distressed assets they’ll be the most sharp-elbowed lenders in the business a FILO is typically drawn as part of an existing credit facility its FILO would be structured within its $1.8 billion asset-based loan “meaning our ABL/FILO commitments remain capped at $1.8 billion,” the company said Whatever additional capital the company can procure will not address the other elephant in the room: Saks Global’s business performance profits from sales — made greater by the economies of scale that come with a merger — would turn into cash flow that would then be used for interest payments and other costs But since the Neiman Marcus acquisition closed “Fourth quarter 2024 performance at Saks Fifth Avenue was hampered by lower inventory levels which we expect will continue to impact the first quarter of 2025,” the company said “Neiman Marcus performance through holiday was strong but the effects of the macroeconomic environment on the consumer is contributing to continued softness in the consolidated business.” According to credit card data pulled by research firm Consumer Edge sales at Saks Fifth Avenue have fallen double-digits every quarter since fall 2023 Saks Global said its new storefront on Amazon will help it reach new customers only a handful of brands have agreed to be on the platform Allocating merchandise to Amazon also means fewer products for Saks to sell directly not to mention it runs the risk of further alienating brand partners who have yet to come around to the idea of selling on Amazon mounting interest payments and inventory orders coming due It’s unclear if its current selection on Amazon is alluring enough to move the needle for either the department store or Amazon which has struggled to make headway in selling luxury apparel it appears to be “lipstick on a pig,” said Tawil Prada posted industry-beating growth ahead of its Versace acquisition. The Milanese fashion conglomerate’s first-quarter revenues rose 13 percent year on year to €1.34 billion ($1.52 billion). Sales were flat at flagship brand Prada while Miu Miu’s sales soared 60 percent Adidas said Trump tariffs “put a stop” to a boost in targets. After generating better-than-expected first-quarter profits, the German sportswear brand didn’t raise its financial outlook for the year over uncertainty around US President Trump’s tariffs. Following the news, Adidas shares remained largely unchanged in early German trading G-Star Raw named the designers of Botter co-creative directors. Rushemy Botter and Lisi Herrebrugh will reintroduce the Dutch denim brand’s upscale “Raw Research” line in January during Paris Fashion Week and influence G-Star’s main menswear and womenswear collections Etsy topped quarterly revenue estimates on steady demand for apparel and gifts. The online marketplace which owns resale apparel platform Depop reported quarterly revenue rose about 1 percent to $651.2 million surpassing analyst expectations of $642.7 million Trump’s tariffs prompted a slump in shipments to US ports. The number of vessels scheduled to arrive at the Port of Los Angeles next week is down by almost a third year on year Chinese e-commerce exports plummeted in the face of tariffs, despite a rise in sales to the EU. Amid reports that Shein is considering a restructuring of its US operations to circumnavigate tariffs, exports to the US from Chinese online shops such as Shein and Temu have plunged. Total e-commerce shipping dropped 65 percent by volume in the first quarter but rose 28 percent in Europe Nike is forming a new team for its secretive brand with Kim Kardashian. The US sportswear brand is assembling a team of executives and designers to operate its new brand with the entrepreneur and reality TV star’s apparel label Skims, and plans to release its first NikeSkims womenswear collection this spring Shein is weighing a US restructuring as tariff risks cloud its London IPO. The fast-fashion retailer is considering restructuring its US operations, including shifting production for the US market to countries outside China Primark is committed to US expansion despite tariff uncertainty. Associated British Foods chief executive George Weston said its subsidiary fast-fashion retail company Primark is committed to expanding its US store count from the current 29 to 60 stores by 2026 Textile recycler Eeden raised €18 million. The German recycling startup said Tuesday it had raised an €18 Million ($20.4 million) Series A round to fund construction of a demonstration plant in hopes of commercialising its textile-to-textile recycling process Alibaba co-founder Jack Ma was implicated in an intimidation campaign by the Chinese regime. Ma was enlisted by the Chinese government to pressure a businessman to help in the purge of a top official Il Makiage’s parent company raised its full-year outlook. Oddity Tech, which owns Il Makiage and Spoiled Child, announced Tuesday that it had raised its full-year outlook after posting a 27 percent year-over-year rise in first-quarter revenue with earnings of $268 million Both Il Makiage and Spoiled Child posted double-digit revenue growth Estée Lauder’s sales slid 10 percent. The US cosmetics giant forecast a bigger-than-expected drop in fiscal 2025 sales indicating a slow down in the American market Estée Lauder has been struggling to revive dwindling demand Puig posted an 8 percent rise in first-quarter sales. The Barcelona-based company behind perfume brands Carolina Herrera, Rabanne and Jean Paul Gaultier reported €1.21 billion ($1.38 billion) in sales during the first three months of the year Unilever will shutter its Ren skincare business. The consumer goods company that produces Dove soap and Vaseline cited internal challenges that were exacerbated by market conditions as reasons for the Ren shutdown, which has no fixed date. The brand is expected to stop trading by the end of the 2025 third quarter Caroline Hirons’ Skin Rocks landed its first growth investment. The UK-based skincare brand has received a growth investment led by firms Redrice Ventures and Jamjar Investments to fund its international expansion and the development of its professional line. A spokesperson said the brand has generated over £10 million ($13 million) in net revenue since launching in 2022 Freck Beauty founder Remi Brixton sold the brand and stepped down. The Sephora-stocked brand that rose to prominence for its viral freckle pen has been sold to an undisclosed group of owners, while Nameless CPG will operate Freck Beauty Chanel closed its NYC beauty concept boutique. Chanel’s Atelier Beauté Chanel has permanently closed six years after opening in New York City’s Soho The location had offered beauty sampling as well as makeup services and consultations for skincare and fragrance Louis Vuitton named Pierre Castillon its VP of communications, strategic planning and digital. Castillon will report to Blake Harrop Louis Vuitton’s executive vice president of image and communications Prior to his promotion to the newly created role Castillon was Louis Vuitton’s global head of digital media for six years Harper’s Bazaar Italia named new creative directors. The Hearst publication has appointed Michael Amzalag and Mathias Augustyniak The duo has worked with publications like Vogue France and Man About Town and with brands including Yohji Yamamoto and Jil Sander Ari Emanuel acquired the Frieze art group from Endeavor. The Hollywood super agent agreed to buy the contemporary art organisation from Endeavor Group Holdings, Inc. in a deal which reportedly values Frieze at nearly $200 million Frieze CEO Simon Fox will remain in his current role Allure Magazine launched a Philippines edition. The Condé Nast-owned beauty publication is expanding its global footprint with the launch of its second foray into Asia following its Korean edition. The new edition will be led by Rissa Mananquil Trillo a beauty industry veteran and founder of Filipina-focussed skincare brand Happy Skin Family Style launches a zine for Gen-Z. The independent magazine, which styles itself as a curated dinner party bringing tastemakers across culture together in its pages, is looking to expand its consumer base to Gen-Z with the launch of Takeaway Cathaleen Chen is Retail Editor at The Business of Fashion She is based in New York and drives BoF’s coverage of the retail and direct-to-consumer sectors For more information read our Terms & Conditions Designer Jide Osifeso will shape the creative direction of Reebok Basketball as the brand seeks to re-establish itself in a performance category it’s been absent from for more than a decade The comfort sneaker brand’s $63-per-share acquisition by the Brazilian private equity firm 3G shocked both the fashion and financial worlds A gloomy economy probably won’t spoil the Costume Institute’s big party but the ones who do it right foster genuine customer loyalty and extraordinarily high levels of engagement The essential daily round-up of fashion news On Kaia Gerber: Dôen Traveler Cotton Crop Top ($188) The best part is they can be seamlessly mixed and matched for many seasons to come Flip-flops are having a major moment. I've been obsessed since I first laid eyes on it These white jeans are great for the season Jennifer Camp ForbesSocial Links NavigationSenior Shopping EditorJennifer Camp Forbes is a senior shopping editor at Who What Wear where she has worked in a variety of capacities including creative director and various editor roles She’s a well-known shopping expert that’s sought out for advice and insight on the latest trends and fashion picks thanks to her thoughtful shopping roundups Jennifer's lifelong interest in fashion led her to intern at Harper’s Bazaar as an undergraduate while working towards her masters degree in psychological counseling at Columbia University she founded two digital fashion publications: Le Fashion and Olsens Anonymous The popularity of both sites grew and after graduation she decided put her plans to become a therapist aside to pursue a career in fashion Rakuten is once again offering 15% cashback or 15x Membership Rewards for many retailers This latest list has many that could be of interest as travel sites like Viator and Hotels.com are included as are retailers where you can redeem Amex Platinum and Business Platinum credits like Dell and Saks Fifth Avenue Be sure to check your Rakuten account as some people are seeing even higher rates of 20%/20x instead Earning 15x (or 20x if you’re targeted) is an excellent return especially considering it comes in the form of valuable Membership Rewards if you’ve set that up as your earning preference with Rakuten There’s a massive range of eligible retailers for this elevated rate Check the terms though because some of these sites are listed as ‘up to’ 15x you’ll earn 15x at Hotels.com only for bookings in New York City Las Vegas and Orlando; hotel bookings everywhere else get 10x Saks Fifth Avenue is also at 15x for those who have Amex Platinum credits to burn as is Dell for those with the twice-annual credits to redeem on Amex Business Platinum cards Rakuten is listing this 15x sale as ending on May 12 if you’re interested in making any bookings/purchases then it could be worth doing that sooner rather than later Although the 15x sale will be on for another week there’s no guarantee that all of these brands will still be available at the higher rate Dell and Saks have only been at an increased rate for a day or two SoFi Banking is also listed at $300 or 30,000 Membership Rewards which is a great return It seems like those who are targeted for 20%/20x are seeing a $375 or 37,500 Membership Rewards offer for SoFi instead Also be sure to check Capital One Shopping because that portal often has rates well exceeding 15%/15x Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" Δdocument.getElementById( "ak_js_2" ).setAttribute( "value" This site uses Akismet to reduce spam. Learn how your comment data is processed. Anyone have some items with high resale vaule at Dell All the thing’s I’ve bought with credits the last 2 years are gone Too bad IHG basically ceased making Rakuten payments 18-24 months ago which was generating about $2,500 per year for us Read more here… Our Resources Page has a collection of our most useful complete guides and posts Here are a few complete guides to get you started… The liquidation is the end of a retailer whose roots date to the 1600s and leaves a big gap for many brands and their Canadian customers Hudson’s Bay Co. will wind down six namesake stores plus a Saks Fifth Avenue store that the company had previously excluded from liquidation plans saying on Thursday that “a viable bid for the current six-store model is unlikely.” Liquidation sales began Friday Those locations join 73 other Hudson’s Bay stores 13 Saks Off 5th stores and two Saks Fifth Avenue stores in dissolving under Canada’s bankruptcy laws The Hudson’s Bay and Saks Fifth Avenue stores are set to close by June 15 and nine Saks Off 5th stores will close on Sunday The company last month filed for the equivalent of Chapter 11 and about a week later said it would liquidate a retailer that started out as a 17th-century fur-trading operation and evolved into a department store — known affectionately as “The Bay” — marks the end of a centuries-long era for Canadians “It's a really sad day for Canadian retail,” Liza Amlani principal and co-founder of Retail Strategy Group the company flagged Trump administration tariff policy and a tough consumer environment as contributors to its struggles who was CEO of Sears Canada in the early 2000s and previously ran retail studies at Columbia Business School while it is a challenging time for department stores Hudson’s Bay’s troubles stem more from mismanagement than from losing customers or getting defeated by rivals “It's not like Canadians decided they don't like Hudson’s Bay Company — it's a tradition up there It’s not like Canadians are walking around naked because they don't want to buy clothes anymore,” he said by phone These businesses need committed strategic direction and investments Hudson’s Bay and Saks Global are technically separate entities they didn't invest in stores or people because it didn't serve Richard Baker's purpose,” Cohen said chain is also about to leave both brands and consumers adrift in many areas the only department store in a city in Canada and a beauty destination for a lot of customers,” she said “We'll also see that across apparel as well Many brands built their wholesale strategy around Hudson's Bay For any brand that sells to a department store The Bay is the only store in Canada that they sell to So I think it's going to be a big gap in the market once The Bay exits.” Get the free daily newsletter read by industry experts Rare Beauty and Target have taken steps to develop guidance around universally accessible design But the industry isn’t prioritizing it yet The industry may be far from the dramatic day-to-day struggles of 2020 but it hasn’t yet escaped the long tail the global health crisis left in its wake The free newsletter covering the top industry headlines The luxury department store joins Kohl’s in being particularly vulnerable to tariffs’ impact on consumer spending and tariff policies from the Trump administration aren’t helping In addition to a round of layoffs in February, tensions with vendors that came to light around the same time led some analysts to question the company’s financial viability after complaining of not being paid for months were dismayed by a memo from Saks Global CEO Marc Metrick that outlined drawn-out payment terms for past-due invoices and left them little choice but to accept or potentially be dropped Some analysts see its frayed vendor and customer relationships as an opening for Nordstrom, which hired former Neiman Marcus personal stylist Catherine Bloom as its director of luxury styling North American department stores, especially Saks and Kohl’s, are vulnerable to the consequences of new U.S. trade policies, according to a research note last week from Moody’s Ratings analysts led by Christina Boni Moody’s calculates that tariffs will drive a 10% decline in adjusted EBIT for this segment “Department stores face operating performance and profitability risks even without the uncertainty of US tariffs which will aggravate tightening discretionary consumer spending,” Boni said One store that will remain open is the Neiman Marcus location in downtown Dallas Saks Global had tussled with city leaders for weeks after announcing that a landlord dispute would force the store to close at the end of March ShareSaveBusinessRetailSaks Opens On Amazon: Bold Move Or Desperate Measure?ByPamela N. Danziger Forbes contributors publish independent expert analyses and insights focused on the luxury consumer market.Follow AuthorMay 01 12:20pm EDTShareSaveSummarySaks Fifth Avenue launched a storefront on Amazon Luxury Stores offering high-end brands like Dolce & Gabbana and Balmain following Amazon's investment in Saks aims to boost Amazon's luxury presence and help Saks offset debt from its Neiman Marcus acquisition experts worry associating with Amazon could damage Saks' luxury image including bond devaluation and vendor debt making this partnership a risky but necessary revenue-generating strategy the move raises concerns about brand dilution and Saks' dependence on Amazon.Powered by Adelaide UK - A large Amazon Prime delivery lorry on the road Saks Fifth Avenue just launched a storefront on Amazon under Amazon’s separate Luxury Stores banner The Saks online storefront is more refined and less busy than the typical Amazon page star ratings and the “products bought together” suggestions the simplified Saks product pages on Amazon might be considered plain vanilla They lack the “complete the look” and “you also might like” features familiar to SaksFifthAvenue.com customers the convenience of free one-day shipping is available to Amazon Prime members The Saks on Amazon launch was inevitable after Amazon invested in the Saks-Neiman Marcus merger last year which has been trying since 2020 to get a foothold in the luxury market The Saks name lends Amazon credibility in the luxury market yet the name that lifts Amazon’s image may simultaneously undermine the exclusivity and refinement that define the Saks brand “To associate luxury labels with Amazon will only benefit one party,” observed Mickey Alam Kahn “Saks Global needs to scale distribution at this moment to digest the Neiman Marcus and Bergdorf Goodman acquisition But it must beware of cheapening its luxury luster To finance the $2.7 billion Neiman Marcus acquisition Saks Global sold $2.2 billion in junk-rated bonds in December The bonds traded as high as 97.75 cents on the dollar but given rising uncertainty about prospects in the luxury market and Saks’ ability to overcome the headwinds the bonds have lost about 40% of their value since then The bonds were trading around 61.43 cents as of Tuesday and a $120 million interest payment comes due in late June, according to WWD While CEO Marc Metrick reassured bond holders the company has between $350 million and $400 million in liquidity it also has long past-due bills from vendors which it will begin to payback in installments beginning in July this year “The Saks business is under financial pressure,” GlobalData’s Neil Saunders matter-of-factly said Opening on Amazon is more a short-term commercial act for Saks.” “Saks has a pretty dismal record these days as a retailer and you have to wonder if they can execute this effectively,” shared retail analyst Warren Shoulberg. He applauds Saks for trying something different – “Heaven knows, retail could use more of that.” But maybe opening on Amazon is a little too different for Saks. Shoulberg sees the upside for Amazon in broadening its luxury offerings – “We know that customers is on Amazon and there’s no reason why they shouldn’t be able to buy luxury brands the same way they buy toothpaste and iphone cables.” And that’s the crux of it. Buying luxury fashion is nothing like buying toothpaste. “There’s a bit of a risk factor in the move,” he observed, “But we may have passed that stage where it matters. It’s a fact of life that just about anything and everything is being bought online and this gives Saks an opportunity to lead the way and stake out its territory on Amazon.” The independent luxury brands that Saks is bringing onto Amazon have to agree to being showcased there. None of the major players, such as Louis Vuitton, Gucci, Giorgio Armani, Hermès or Chanel are coming along for the ride. “For bigger luxury labels, where and how you sell is as important as what you sell and to whom you sell,” noted Luxury Roundtables’ Alam Kahn. Amazon may be able to expand Saks’ reach, but at what cost? “The problem is that, in the end, Saks will need Amazon more than Amazon needs Saks and that imbalance in the relationship means this may not end all that well for Saks,” GlobalData’s Saunders concluded. and Chantecaille with Saks on AmazonSaks on Amazon offers a curated selection of luxury fashion and beauty items Amazon.comConditions of UseAmazon Privacy Policy© 1996-2025 Amazon.com Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. You can unsubscribe at any time. Please see our privacy policy for more information you almost wouldn’t know you’re on Amazon.com the world’s largest e-commerce everything store makeup and skincare brands are listed in the storefront most with a limited selection available to shop The user experience has familiar Amazon markers A $1,890 Balmain cardigan comes with free one-day shipping for Prime members — along with a note that it’s sold and shipped by Saks Fifth Avenue with items from a $45 Chantecaille lipstick to a $4,150 Giambattista Valli midi dress presented in clean flatlays on white backdrops But you’ll notice other features typical to shopping on Amazon are missing where the price tag fluctuates by size and colour based on demand And the product pages have been cleaned up and scaled back to include only item descriptions recently viewed pages and an “About the Brand” section — even Amazon’s signature star ratings and reviews are gone a 10 per cent offer in exchange for signing up for Luxury Stores texts or emails is featured in a banner at the top of the page with no related items or “you might also like” offerings “It’s merchandising 101,” says Jessica Ramírez co-founder of retail consultancy The Consumer Collective it doesn’t feel like what you would expect.” Amazon has tried to win over luxury brands to grow its selection and consumer base targeting the more discretionary designer shopper Amazon Luxury Stores — which Saks on Amazon is a part of — first launched in September 2020 as a mobile-only experience with Oscar de la Renta as its first and only brand partner a European launch and tie-ups with resale and rental platforms Hardly Ever Worn It What Goes Around Comes Around and Rent the Runway But it’s been fledgling in the years since with limited selection and a difficult-to-access landing page Amazon’s model has long prioritised the cheapest prices strong reviews and product SEO for sellers — many of whom have spent years perfecting their Amazon strategies It’s not something that most luxury brands have felt incentivised to invest in themselves thanks to the clinical user experience and clashing priorities This could now change. When Saks merged with Neiman Marcus creating the Saks Global group composed of Saks Fifth Avenue to help get the deal over the line as investors Salesforce’s role is that of a tech partner particularly working on generative artificial intelligence while it was clear that Amazon would be an e-commerce partner Any fears that designers might have had that selling on Amazon could jeopardise relationships with other retailers — say The relaunch of Amazon Luxury Stores with Saks also comes as luxury e-commerce platforms have largely broken down limiting options where designer brands can sell online outside of their own websites there’s a white-space opportunity in terms of non-traditional retail partners.” It was a blow to brands operating on thin margins already; but many designers Vogue Business spoke to acquiesced that ultimately They need Saks as a partner to reach customers “We have all this extra inventory — we need to figure out the best way to move it,” one designer said But Amazon’s long-standing problem is that its experience is highly transactional and discovering the Luxury Stores landing page without knowing to look for it is a problem in and of itself Saks is launching an editorial campaign to promote the new Saks on Amazon store using its own storefront windows as the showcase The Saks Fifth Avenue flagship in New York City will dedicate window space to items available to shop on Saks on Amazon It’s a fitting representation of just how much the lines across retail have blurred Correction: A previous version of this article stated that Saks on Amazon replaces Luxury Stores; it is part of the storefront Comments, questions or feedback? Email us at feedback@voguebusiness.com Elie Tahari sets his succession plan How Ralph Lauren is defending its turf in a global trade war How to raise prices without losing customers Sign up to our newsletter for a truly global perspective on the fashion industry Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. You can unsubscribe at any time. Please see our privacy policy for more information. , opens new tab's Louis Vuitton and Christian Dior.The new Saks Fifth Avenue Amazon section will be a "store within a store" that lives in Amazon Luxury Amazon's vice president of fashion and fitness.Saks Fifth Avenue will have a third-party storefront meaning that the luxury retailer will control its own merchandise and fulfillment the companies said."We're really excited about this opportunity to be able to access a client who's shopping on Amazon who is qualified for luxury," Saks Global President and Chief Commercial Officer Emily Essner said She added the partnership will also help Saks Global understand customer engagement.(This story has been refiled to correct the spelling of Dolce&Gabbana in paragraph 1)Reporting by Arriana McLymore in Los Angeles; Editing by Sandra Maler Our Standards: The Thomson Reuters Trust Principles., opens new tab Arriana McLymore is a New York-based reporter covering e-commerce, online marketplaces, alternative revenue streams for retailers and in-store innovation. She previously reported on telecoms and the business of law. , opens new tab Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. , opens new tabScreen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. © 2025 Reuters. All rights reserved This post is sponsored by Saks Fifth Avenue + Collective Voice I’m forever a jeans and a tee gal…especially jeans and a graphic tee Give me a gorgeous denim wash and a chic t-shirt design and I’m set for my everyday looks But when I want to level up my everyday jeans and a tee to make them feel more complete, more chic, more special, I rely on really beautiful accessories and I love to find all of those at Saks. You can find more of the team’s favorite pieces on our Insider’s Picks page here; Saks always has the most beautifully fun selection of not only the go-to outfit pieces I count on for looking leveled-up Keep reading for more details on my base outfit and how I style it up from there Tee (M) | Jeans (30) | Shoes | Bag | Necklace the “I don’t want to have to think about what I’m wearing but want to look good” combo The tee and jeans here are some of my favorite tee and jeans around. I love a boxy cropped t-shirt and when I saw this Favorite Daughter option I was like “yes it’s funny because I’m the only daughter in my family The jeans are my go-to Rag & Bone Miramar knit ‘jeans’ but in a slightly straighter cut than my previous pairs This pair did run a little big (I typically go up a size in R&B) but they are perfection after washing Gosh. Loeffler Randall just knocks it out of the park with bags and shoes, I swear. This woven beauty of a tote bag is so chic and I love the texture and pattern it adds to this outfit It is even more beautiful in person if you’ve been looking for a leather tote This one is perfect for summer and packs flat so it would be perfect for travel Seashells are having a moment and I think it’s so fun to pull them in as a statement piece in an otherwise everyday outfit. You won’t find me wearing them with a flowy floral dress but I will absolutely with a graphic tee. This one from designer Lele Sadoughi is so gorgeous (and comfortable to wear.) It’s the perfect statement necklace for all spring and summer and years to come These pretties from Bernardo are just that…so pretty The vibe of these flats feel a little unexpected when paired with a casual pair of jeans and tee And the footbed has a bit of cushion which is so nice They make this simple casual look just a little more special and fun but I tend to go up 1/2 size in any styles like this and that was the right call here How are you leveling up your favorite jeans and a tee look this spring and summer? I’m now a little obsessed with this formula and finding other fun pieces to mix in! Ooh these and this Thank you so much to Saks for sponsoring this article we can always find gorgeous pieces to take our outfits up a notch on your site And I love that there is forever a great selection of my beloved brands like Rag & Bone thank you again for all your support of what we do here at The Mom Edit Would love for you to follow me + my stories over on Instagram…for comic relief We’re a shopping and lifestyle website with a playful We focus on authenticity and believe that we all feel our best when we’re our most genuine selves a supporter and a totally inclusive place for style – ALL are welcome here Every product is independently selected by our editors Things you buy through our links may earn us a commission Amazon has a lot of products to sort through — trust us, we know. Fortunately, an unlikely collaboration has made it easy to find and get your hands on some of your favorite luxury brands. Saks Fifth Avenue has teamed up with Amazon for a curated selection of luxe pieces now available on Amazon but this collaboration will bring in a fresh batch of brands what exactly does a collaboration between the two retailers look like You’ll be able to shop brands including Ganni The selection will also be updated regularly and will have new brands added We’ve rounded up a quick primer on what to shop Ballerina flats show no sign of letting up Grab these and swap them for sandals this summer Kitten heels are so in but if you’re not sold on the trend an offbeat heel like this one from Stella McCartney with a square toe is a good way to ease into it these shoes are a little extra but just what you need to complete a look It’s all about the details with this Moschino bag you can carry everything you need in this spacious bag Calling all 2025 and ’26 brides: This floor grazer with ruffle details is just the white dress you need for all the pre- and post-wedding festivities and photo ops A lightweight slip dress is all you need for summer dressing This Moschino maxi has all the cute details of a good thrift find It’s hard for New York girls to give up black even in summer this Ganni minidress is a nice alternative to overheating on the subway this mini shirtdress is ideal for layering over and under pieces or wearing alone By submitting your email, you agree to our Terms and Privacy Notice and to receive email correspondence from us North American department stores, especially Saks and Kohl’s, are vulnerable to the consequences of new U.S. trade policies, according to a research note from Moody’s Ratings analysts led by Christina Boni Stanley 1913 expects to improve scenario planning and supply chain visibility with the Kinaxis Maestro platform.  The state’s Smackover Formation region may contain up to 19 million tons of the critical mineral more than enough to meet projected global demand in 2030 Subscribe to Supply Chain Dive for top news The partnership will feature an assortment of high-end men’s and women’s brands Amazon may have found a partner with enough name recognition to finally capture elite online shoppers said in the release that Amazon customers want to shop more high-end brands “This collaboration with Saks furthers Amazon’s commitment to supporting the luxury industry and increasing our assortment for customers, while maintaining an elevated shopping experience that meets the varying tastes of our diverse customer base,” said Freshwater, who took over Amazon’s Fashion and Fitness division in 2023 Initial brands in the storefront include Dolce&Gabbana More labels will be added following the launch although the release did not specify additional brand names “This collaboration underscores Saks Fifth Avenue’s reputation as a leader in luxury curation as well as our commitment to reinventing luxury shopping so that each customer’s experience is unmistakably their own,” Emily Essner president and chief commercial officer at Saks Global “We are delighted to collaborate with an incredible group of forward-thinking brand partners for launch and we look forward to expanding selection with additional brands as we evolve the experience.” An editorial campaign accompanying the launch was directed by Max Siedentopf and the online storefront is also being promoted via a window installation at the Saks Fifth Avenue New York flagship store Saks Global, parent company of Saks Fifth Avenue and Saks Off Fifth, completed its acquisition of the Neiman Marcus Group Following the close of the deal, Saks Global announced multiple rounds of layoffs, including job eliminations resulting from the closure of a fulfillment center earlier this month The Container Store and Joann have all filed for Chapter 11 it remains key to growth for many retailers But the era of the DTC brand as we know it is over We deliver! Get curated industry news straight to your inbox. Subscribe to Adweek newsletters Saks Fifth Avenue’s flagship store has defined what it means to window shop in New York Even as the department-store era continues to fade into history Saks’ 12 gigantic displays behind plate glass continue to draw visitors eager to peek at the medleys of Balmain handbags visitors got their first glimpse at those same tableaux without having to trek to Fifth Avenue.  As announced on Tuesday (April 29), the department store has set up shop on the world’s largest online marketplace as a standalone destination called Saks on Amazon The platform has Amazon’s familiar features but the abundance of white space denotes a higher-end experience—as do the virtual store windows “Inspired by the iconic windows at the Saks Fifth Avenue New York flagship, these digital displays allow customers to window shop the Saks on Amazon storefront,” Amazon said in a prepared statement “with the added convenience of instantly adding items to their cart.” The new store signals as much change for Saks as it does for Amazon—and according to veteran retail analyst Bruce Winder “Amazon was in need of credibility for their luxury stores initiative and they have done just that,” Winder said.  “Saks needs to target millennials and Gen Z digital natives who will search online first,” he added Since opening its Luxury Stores platform in 2020 Amazon has been trying to capture more of the luxury market—no mean feat given the platform’s associations with high volume and deep discounting Sergio Hudson and Oscar de la Renta signed onto that initiative Those taking a pass included the ultimate luxury conglomerate An unidentified executive with the French company told the Wall Street Journal that year that it didn’t want its brands to be associated with the Amazon name Historically, luxe brands have also had a gripe with Amazon over third-party malfeasants who list counterfeit goods money that paid for some 15,000 “machine-learning scientists and expert investigators,” as Amazon corporate put it to create a dragnet for dubious merchandise The company’s Brand Protection Report for 2024 noted that “Amazon stopped more than 700,000 bad actor attempts to create new selling accounts.” Brands also must consent to have their goods featured in Saks on Amazon Counterfeit Merch Is a Curse for Luxury Brands the Amazon storefront may help to address the debts incurred in its $2.65 billion acquisition of Neiman Marcus Group last year Amazon was among the investors in that deal so its emergence as a platform for Saks isn’t especially surprising Saks’ venture with Amazon opens the door for more customer traffic while also marking the evolution of luxury brands’ feelings about ecommerce luxury brands wish to engage customers through brick-and-mortar channels so they can inspire shoppers…through best-in-class service,” Winder said as the need to target younger customers grows Saks sees the opportunity to meet millennials and Gen Z where they shop.”  “Amazon’s AI agents help with the curation aspect and Amazon’s storefront and convenience has become so advanced it can offer a new alternative sales channel for luxury customers,” he added luxury customers can still window shop the old fashioned way The 12 windows on Fifth Avenue are currently promoting… Amazon Robert Klara is the senior editor of brands at Adweek specializing in the evolution and impact of brands Adweek is the leading source of news and insight serving the brand marketing ecosystem Connecting decision makers to a dynamic network of information Bloomberg quickly and accurately delivers business and financial information Handbags and wallets displayed for sale at the Saks Fifth Avenue flagship department store in New York laying off workersA luxury department store operator is trimming its supply chain infrastructure Saks Global, parent of the Saks Fifth Avenue and Neiman Marcus banners will begin permanently closing its distribution center in LaVergne The company expects all separations of affected employees to be complete by Sunday In a Worker Adjustment and Retraining Act (WARN) notice filed with the Tennessee Department of Labor and Workforce Development on Thursday who are not represented by a collective bargaining agreement The state non-profit organizations Workforce Essentials and Northern Middle Tennessee Local Workforce Development Area will be responsible for the oversight and continued follow-up of services for employees who are laid off as a result of the closure In more cuts, WWD reported that Saks Global is laying off approximately 550 workers as part of an effort to consolidate operations among its two banners Most of the layoffs came from Saks Global’s corporate offices in Brookfield Place in lower Manhattan where a total of about 300 workers are being let go Saks Global is seeking to reduce annual costs by approximately $500 million during  the next few years Saks Global, which finalized its acquisition of Neiman Marcus Group for a total enterprise value of $2.7 billion in December 2024 is keeping Neiman Marcus’ store in downtown Dallas open through the 2025 holiday season after initially announcing its intention to close the store at the end of March.  [READ MORE: Neiman Marcus’ Dallas flagship to remain open — through holiday season] Saks Global is also planning a $100 million renovation of the Neiman Marcus store at NorthPark Center which is about 15 minutes away from downtown Dallas The Saks Global portfolio includes Neiman Marcus Two popular e-commerce platforms that deal largely in inexpensive imported Chinese goods to U.S consumers are hiking their prices due to tariffs.  In a letter to customers posted on its website Shein said that its operating expenses have gone up “due to recent changes in global trade rules and tariffs.” “To keep offering the products you love without compromising on quality we will be making price adjustments starting April 25 We stand ready to make sure your orders arrive smoothly during this time.” Temu sounded a nearly identical note in its online message to customers Both companies said they were doing everything they could to keep prices low — and neither revealed the amount of the increases.  [READ MORE: Amazon takes on Temu, Shein with low-priced storefront] Walgreens Boots Alliance has settled an opioid lawsuit with the U.S Walgreens has agreed to pay the government at least $300 million to settle allegations that it unlawfully filled millions of invalid prescriptions for opioids and other controlled substances in the last decade According to the terms of the settlement, Walgreens will pay $300 million to settle allegations that it violated the Controlled Substances Act and the False Claims Act numerous times between August 2012 and March 2023 it will owe the government another $50 million “We strongly disagree with the government’s legal theory and admit no liability,” Walgreens spokesperson Fraser Engerman said in a statement, reported AP News “This resolution allows us to close all opioid related litigation with federal state and local governments and provides us with favorable terms from a cashflow perspective while we focus on our turnaround strategy.” The Justice Department moved to dismiss the lawsuit against Walgreens in light of the settlement agreement “Pharmacies have a legal responsibility to prescribe controlled substances in a safe and professional manner not dispense dangerous drugs just for profit,” Attorney General Pamela Bondi said in a statement “This Department of Justice is committed to ending the opioid crisis and holding bad actors accountable for their failure to protect patients from addiction.” wholesalers and pharmacy retailers have agreed to more than $50 billion worth of settlements with governments with most of the money earmarked to be used to fight the opioid crisis household shops at a wide variety of retailers annually Circana’s latest Complete Consumer research reveals that households visit 39 unique retailers each year with omnichannel shoppers spending nearly twice as much as those who stick to one or the other The new data showcases how consumers are shifting their spending patterns amid ongoing economic uncertainty “everyday indulgences” are playing a key role in consumer spending with notable growth in small luxury purchases prestige beauty products and premium-priced candles "Our study shines a light on the trade-offs consumers face daily whether it’s choosing value at dollar stores or splurging on small indulgences like gourmet coffee," said Michelle Bennett executive VP of consumer and shopper insights at Circana companies can align their offerings to what really matters to today’s shoppers [READ MORE: Consumers worried about recession, tariffs; expect to change shopping behavior] Findings from Circana include the following: Zales wants to be the go-to jewelry destination for the new generation of “confident The retailer has launched a new branding campaign “Own It,” that flips the script on traditional fine-jewelry marketing by championing the belief that such jewelry is meant to be worn every day — as opposed to being saved for special occasions The campaign marks a pivotal shift for Zales as it asserts a fresh identity for a new generation of confident “Jewelry is not just about marking milestones; it’s about elevating everyday moments,” said Kecia Caffie “With this new campaign we’re inviting our customers to embrace their individuality Zales is also testing a "store of the future" concept that reimagines the in-store experience and blends digital integration with vibrant the brand is embracing digital-first strategies exploring new channels such asmobile gaming and interactive social formats while doubling down on influencer partnerships to better connect with younger audiences and highlight the importance of peer-to-peer recommendations Zales is expanding its product assortment with unique trend-driven collections such Stellar Allure’s modern lab-grown diamond fashion designs which features accessible price points along with stackable Customization and personalization take center stage allowing customers to craft pieces that are truly their own [READ MORE: Signet reorganization plan includes off-mall move] Zales is operated by Signet Jewelers Limited the world's largest retailer of diamond jewelry Signet operates approximately 2,600 stores under a variety of banners Walgreens is making its stores part of a major national initiative to help fight prescription drug abuse On Saturday, April 26, 2025, Walgreens is participating in National Prescription Drug Take Back Day This annual event is dedicated to the safe disposal of unwanted participating consumers can dispose of medications they no longer need at any of more than 1,500 in-store kiosks Walgreens offers in its stores across 46 states and Washington These kiosks are intended to help ensure medications are not accidentally or intentionally misused Customers can find kiosk locations on Walgreens.com via the store locator tool by using the search filter for “medication disposal kiosk” under the pharmacy section.  Walgreens pharmacies that do not have safe medication disposal kiosks offer other drug disposal options free of charge that are also available year-round upon request at the pharmacy counter [READ MORE: Walgreens in $638 million opioid settlement with Florida] are safely disposed of at incineration facilities that are registered with the federal Drug Enforcement Administration.  Since the inception of its current safe medication disposal program in 2016 (which followed a previous mail-based initiative launched in 2010) Walgreens says it has collected and properly disposed of more than 6.5 million pounds of unused prescription medications Walgreens operates nearly 9,000 retail locations across America With Saks Fifth Avenue at The Esplanade now shuttered after decades in Palm Beach what plans are in place for its former space on Worth Avenue In an exclusive interview Tuesday with the Daily News two-story space formerly occupied by Saks would be redeveloped to include luxury retail Saks closed its store there April 19 after more than four decades The retailer will not reopen elsewhere in Palm Beach but plans to maintain a presence on the island through the personal shopping service known as The Fifth Avenue Club Saks is partnering with the White Elephant hotel in Palm Beach for the venture according to a Saks Fifth Avenue spokesperson O'Connor said he welcomed the opportunity to transform a major property in one of the nation’s most renowned shopping districts O'Connor Capital bought the 140,000-square-foot Esplanade property at 150 Worth Ave. for $106 million in 2014 "We're excited about getting such a large space on such a great street and such a great town," he told the Daily News "It's not often that you get all that square footage and we're going to continue on with the care and feeding that we've done with the rest of The Esplanade." O'Connor noted that two businesses opened in The Esplanade last year — Carolina Herrera and Lugano Diamonds & Jewelry — and both have had "great success" there He hopes to continue that momentum by featuring premium retail on the ground floor of the former Saks space and office space on the second level Those additions could help draw more people to The Esplanade "We think the 100 block of Worth Avenue has a great opportunity to become a more dynamic spot," O'Connor said an architecture firm with offices in Palm Beach and New York will guide the project’s architectural design "It is an honor to bring our design expertise to a project that will redefine this space while staying true to the character and elegance that makes Palm Beach so special,” Anne Fairfax The two-story Esplanade was built in the 1970s by developer Murray Goodman, who also built the Phillips Point office complex along Flagler Drive in West Palm Beach. Goodman died in 2024 at the age of 91 When the Mediterranean-inspired Esplanade was completed Goodman successfully brought Saks to its new spot at the eastern edge of Worth Avenue O'Connor said that Saks will be missed at The Esplanade but he is hopeful his firm will continue to maintain a relationship with the company "We've been great partners with them," he said "We have another one of them in New Orleans (CEO) Richard Baker does a great job with the company and we have a great relationship with them and we're trying to make sure they keep coming to The Esplanade." O'Connor said discussions are ongoing with "national and international" retailers to possibly lease space at The Esplanade but that he was unable to share further details "It will be a little bit of time before we can announce someone," he said The redeveloped space will not include any restaurants or a private club O'Connor Capital proposed transforming part of the first floor and the entire second floor of the space into a private membership club the company wanted to convert part of the rooftop parking lot into a private club venue and turn the first floor into a large restaurant and space for small boutiques according to a leasing brochure circulating in the local real estate community O'Connor noted that the town has temporarily banned new restaurant At its April 9 meeting, the Town Council extended that pause until July to give the town’s traffic consultant more time to collect data "We've been stewards of the property for a long time," O'Connor said "We've been great partners with the town of Palm Beach I know they've continued the moratorium on restaurants and dining and all that so we're not going to get ahead of what plans they may have What The Esplanade does offer is great and abundant parking and we're going to really use that as an amenity for the town O'Connor said work will begin this summer on waterproofing and resurfacing the ground floor of The Esplanade The space might not be ready for another season or two he remains confident in the island's retail growth and what lies ahead for The Esplanade "We think it's a great investment," he said "Retail has gone through lots of dynamic changes and what's really working is luxury and value And this is the premier luxury destination in the U.S. Jodie Wagner is a journalist at the Palm Beach Daily News, part of the USA TODAY Florida Network. You can reach her at jwagner@pbdailynews.com The Saks Global Tennessee Fulfilment Center in La Vergne will begin closure by June 30 The decision will impact 446 workers at the fulfillment center at 1 Walden Books Drive according to the Tennessee Department of Labor and Workforce Development "The employees at the facility are not represented by a collective bargaining agreement,' the state report said The Northern Middle Local Workforce Development Area rapid response team has been notified to coordinate services with the employer and affected employees News about the Saks announcement follows the Bridgestone tie factory in La Vergne reporting in January plans to close operations by July and cut 700 jobs La Vergne Mayor Jason Cole provided the following statement to The Daily News Journal about the announcement from Saks "The closure of a landmark like Saks Fifth Avenue is undoubtedly a significant moment for our city," Cole said "While we are saddened by this decision and the impact it will have on the dedicated employees we remain committed to fostering a vibrant and dynamic economic environment We will actively explore opportunities to revitalize this space and attract new businesses that will continue to serve our community and contribute to our city's growth and prosperity." Reach reporter Scott Broden with news tips or questions by emailing him at sbroden@dnj.com. To support his work with The Daily News Journal, sign up for a digital subscription. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world seeking to shore up its finances as President Donald Trump’s trade policies threaten to batter the US retail sector driven by tariffs and the threat of further trade restrictions we are prudently evaluating opportunities to strengthen our balance sheet,” the company said in an emailed statement The new debt would come in the form of a so-called first-in last-out loan raised under the $1.8 billion borrowing capacity of its existing revolving credit facility Saks Fifth Avenue has partnered with Amazon Fashion to launch a Saks-branded storefront on Amazon The department store retailer will curate a collection of luxury merchandise from brands including Stella McCartney with additional brands set to launch in the coming months The assortment will include women’s and men’s ready-to-wear “We know that Amazon customers are eager to shop these brands in Amazon Luxury Stores,” said Jenny Freshwater “This collaboration with Saks furthers Amazon’s commitment to supporting the luxury industry and increasing our assortment for customers while maintaining an elevated shopping experience that meets the varying tastes of our diverse customer base.” The Saks on Amazon experience includes regularly refreshed product arrays Women’s Weekend Uniform and Men’s Elevated Essentials to help customers discover what’s new and trending Customers also can browse the assortment through digital window displays inspired by the iconic windows at the Saks Fifth Avenue New York flagship store featuring six vignettes emphasizing a luxury sensibility also will come to life through a real-world window installation at the flagship Saks location as well as our commitment to reinventing luxury shopping so that each customer’s experience is unmistakably their own,” said Emily Essner President and Chief Commercial Officer at Saks Global in a statement and we look forward to expanding the selection with additional brands as we evolve the experience.” Saks Global completed its $2.7 billion acquisition of Neiman Marcus Group in December 2024 View the Retail Trendcaster Webinar Series on-demand to uncover key 2025 retail trends from AI and personalization to social commerce and actionable takeaways to stay ahead in a rapidly evolving market Get access to exclusive content including newsletters with experts analyzing holiday sales and forecasting trends View the full lineup of the Retail Trendcaster video series for insights on consumer spending and more—helping you focus on what truly matters in 2025 Saks Global moved to consolidate its business this week laying off hundreds of workers across its corporate offices stores and a fulfilment centre in Tennessee The department store group, which closed its acquisition of Neiman Marcus Group in December will eliminate 3 percent of its total employees citing sources familiar with the situation More than half of the layoffs will be in corporate offices in New York Saks Global is also shutting down a warehouse in Tennessee A local Nashville news outlet first reported the news last Thursday The cuts come at the heels of a previous round of layoffs in February when the company announced it would reduce corporate roles by 5 percent Industry observers anticipated consolidation when the Neiman Marcus merger materialised last summer. At the time, the retailers’ combined real estate portfolio had 11 areas of overlap, including eight malls with both a Saks and a Neiman Marcus store Saks nonetheless faced liquidity issues prior to the $2.7 billion acquisition. Its former sister company, the Hudson’s Bay department store chain in Canada Saks vendors have voiced concern over late or withheld payment from the department store Multiple brands told BoF over the course of two years that they have either reduced their volume of shipments to Saks or stopped working with the retailer altogether “All the costs of doing business have gone up,” Saks Global CEO Marc Metrick told The Business of Fashion in February after sending an incendiary memo to vendors outlining longer payment terms the verticalisation of the brands themselves opening their own stores has increased.” President Donald Trump’s aggressive trade policies are causing further strain on Saks’ business Beyond the consumer pullback that will likely accompany higher cost of goods namely the holders of a $2.2 billion junk bond that Saks issued to finance its acquisition of Neiman Marcus are now demanding a 20 percent annual yield on that debt — up from 11 percent in December and on par with consumer credit card interest rates Metrick told WWD in an interview last week that the company is planning to reduce annual costs by $500 million BoF could not reach Saks Global for comment at the time of publication Hudson’s Bay to Begin Liquidating Most Stores on Monday An Ontario court approved the retailer’s proposal to liquidate most stores while trying to find restructuring solutions with creditors and landlords on Friday The shiny new storefront on Amazon Luxury did not distract investors this week from Saks Global’s deteriorating liquidity problem is a thoughtfully curated selection of coveted items across designer fashion and beauty the collaboration combines Saks's long-standing retail expertise with the convenience Amazon is known for: fast and free shipping I would love to own this hat to wear at the beach I have way too much random knowledge, which includes knowing this is Hailey Bieber's favorite perfume I like wearing anything tinted—BB cream tinted moisturizer—instead of foundation He is a  recognized expert on retail technology and is well versed in all things tech Dan’s “Retail Insights” technology column was recognized by the prestigious Eddie & Ozzie Awards He has been quoted and interviewed by a variety of publications and news sites including CNBC, and has served as a moderator and session host at numerous industry events.  Follow Dan on LinkedIn. Saks Fifth Avenue is offering a curated assortment of fashion and beauty products in a dedicated section of the Amazon site Saks and Amazon Fashion are launching Saks on Amazon a new shopping experience in the Luxury Stores at Amazon online store featuring a selection of upscale merchandise curated by Saks.  the new multi-brand storefront offers luxury fashion and beauty items from Saks in Amazon’s store The curated selection includes women’s and men’s ready-to-wear handbags and accessories from brands including Dolce&Gabbana with additional brands set to launch in coming months.  The experience includes regularly refreshed product arrays Women’s Weekend Uniform and Men’s Elevated Essentials Customers can also browse the launch assortment through digital window displays available in the Saks on Amazon experience Inspired by the windows at the Saks Fifth Avenue New York flagship these digital displays allow customers to “window shop” the Saks on Amazon storefront and instantly adding items displayed there to their cart [READ MORE: Saks Fifth Avenue honors 'The Traitors' with window display, assortment There is also a window installation at the Saks Fifth Avenue New York flagship Located on the corner of 50th Street and Fifth Avenue the window display features a curation of items from the Saks on Amazon assortment set against backdrops inspired by a new editorial campaign “Saks Arrives on Amazon,”  created by Saks and directed by Emmy-award winning director Max Siedentopf "We’re excited to introduce a new shopping experience that gives Amazon customers the opportunity to discover a distinctive luxury assortment selected by the experts at Saks Fifth Avenue," said Emily Essner president & chief commercial officer at Saks Global "This collaboration underscores Saks Fifth Avenue’s reputation as a leader in luxury curation as well as our commitment to reinventing luxury shopping so that each customer’s experience is unmistakably their own." "We know that Amazon customers are eager to shop these brands in Luxury Stores," said Jenny Freshwater "This collaboration with Saks furthers Amazon’s commitment to supporting the luxury industry and increasing our assortment for customers while maintaining an elevated shopping experience that meets the varying tastes of our diverse customer base." Suzanne Blake is a Newsweek reporter based in New York Her focus is reporting on consumer and social trends spanning from retail to restaurants and beyond She is a graduate of UNC Chapel Hill and joined Newsweek in 2023 You can get in touch with Suzanne by emailing s.blake@newsweek.com either observed and verified firsthand by the reporter or reported and verified from knowledgeable sources Translations may contain inaccuracies—please refer to the original content A new wave of store closures is scheduled for May affecting major retailers across the country Companies ranging from Saks Fifth Avenue to JCPenney are scaling back operations in select regions while broader trends in the retail industry are prompting closures numbering in the thousands nationwide The retail sector continues to face challenges as more shoppers turn to online platforms and companies reassess their brick-and-mortar presence More than 2,500 store closures are planned across the United States this year reflecting a trend that shows little sign of slowing Closures impact not only consumers who rely on local stores but also employees and surrounding businesses that benefit from foot traffic Retail chains are adjusting their strategies by shuttering underperforming locations focusing on digital sales or moving into smaller-format stores The closures are affecting a broad range of sectors from high-end department stores to mall-based clothing retailers and neighborhood pharmacies A spokesperson for Rite Aid told Newsweek: "The decision to close a store is not one we take lightly While we have had to make difficult business decisions over the past several months to improve our business and optimize our retail footprint we are committed to becoming financially and operationally healthy Demand for our products and services remains strong and we continue to serve our customers with the same high-quality service they have come to expect from us." A Saks Global spokesperson told Newsweek: "While we saw meaningful engagement and success through the appointment-only format we have made this decision as part of our integration process as we focus on long-term growth We look forward to serving the Bay Area community at Neiman Marcus San Francisco "We are committed to treating every colleague with respect and fairness throughout the process Transfer opportunities to Neiman Marcus San Francisco will be offered where possible and eligible colleagues will be offered appropriate separation packages." A spokesperson for JCPenney told Newsweek: "Store evaluations and decisions are dynamic While we do not have plans to significantly reduce our store count we can confirm that there are seven isolated JCPenney store closures planned by the end of May Individual closures in specific markets happen from time to time due to expiring lease agreements the CEO of 9i Capital and the host of the 9Innings Podcast told Newsweek: "The cause is the same across the entire industry: heavily indebted companies seeking bankruptcy protections and trying to offset that debt by closing down storefronts." a financial literacy instructor for the University of Tennessee at Martin told Newsweek: "While JCPenney is claiming these closures are more isolated they do tie-in to a troubling trend we've seen over the last year of other major retailers shuttering locations in many states It's the perfect storm of bad economic factors: foot traffic is down and rents for these locations have more than likely seen significant increases." Industry analysts predict that retail consolidation will continue through 2025 as companies optimize their footprints and adapt to post-pandemic consumer behaviors labor costs and declining mall traffic are expected to contribute to further closures Saks Fifth Avenue has not announced plans for a replacement in its Union Square space while JCPenney continues efforts to refresh and modernize remaining stores after emerging from bankruptcy they accumulated unsustainable debt through acquisitions which became even more burdensome when the pandemic hit," Thompson sad private equity firms moved in and began the all-too-common process of buying up the real estate and leasing it back to the company providing a quick lifeline to pay down existing debt." is proceeding through Chapter 11 bankruptcy proceedings which could lead to additional closures in the months ahead Shoppers in affected areas may find fewer local options for clothing pharmacy and household goods as the retail landscape continues to evolve "When you are getting hit on all sides financially the best solution unfortunately can be to close the operation," Beene said "Closing not only stops the monetary bleeding but it allows the company to restructure their offerings and become more efficient." Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground Newsweek is committed to journalism that is factual and fair We value your input and encourage you to rate this article Newsletters in your inbox See all Take a closer look behind the scenes of renowned theater artist Kaneza Schaal’s performance KLII in an artist talk on process Schaal discusses the texts used in the performance—King Leopold’s Soliloquy by Mark Twain Patrice Lumumba’s 1960 independence speech in Congo and La Muette de Portici by Daniel Auber—with Natacha Nsabimana Assistant Professor of Anthropology at the University of Chicago in this conversation moderated by Jane Saks President and Artist Director of Project& English CART captioning is available for this talk To request additional accessibility services like ASL interpretation or audio description, please contact us via email at [email protected] or call 312-397-4076 Kaneza Schaal is a New York City–based artist working in theater Schaal was named a 2023 Project& Evolving Democracy Fellow and an Aetna New Voices Fellow at Hartford Stage Among her many honors are a 2021 Herb Alpert Award in Theatre a Sundance Institute Interdisciplinary Program Grant a SOROS Art Migration and Public Space Fellowship a 2018 Ford Foundation Art For Justice Bearing Witness Award Her project GO FORTH premiered at Performance Space 122 before showing at the Genocide Memorial Amphitheater in Kigali Rwanda; Contemporary Arts Center New Orleans; Cairo International Contemporary Theater Festival in Egypt; and at her alma mater Her work JACK& showed at BAM’s 2018 Next Wave Festival and with its co-commissioners Walker Arts Center and Portland Institute for Contemporary Art Schaal’s piece CARTOGRAPHY premiered at The Kennedy Center and toured to The New Victory Theater She directed Jeanine Tesori and Tazewell Thompson’s BLUE at Michigan Opera Theater composed by Bryce Dessner with libretto by Korde Arrington Tuttle Natacha Nsabimana teaches in the anthropology department at the University of Chicago Her research and teaching interests include postcolonial critique and the cultural and political worlds of African peoples on the continent and in the diaspora Jane M Saks is the President/Artistic Director of Project& and the Artistic Director/Co-Founder of Monuments to Movements and producer whose work with artists focuses on creating new models of cultural participation and experiences with social impact that deliver on the democratic promise of equitable participation Her work challenges and champions issues of gender and power within the worlds of arts and culture Lead support for the 2024–25 season of MCA Performance is provided by Elizabeth A Generous support is provided by Ginger Farley and Bob Shapiro Kaplan; and Carol Prins and John Hart/The Jessica Fund The MCA is a proud member of the Museums in the Park and receives major support from the Chicago Park District Special thanks to Jane Saks and Project& for supporting this project as seen from Union Square in San Francisco on Wednesday The store in Union Square will close on May 10 in another blow to the historic shopping district The Saks Fifth Avenue San Francisco store at one corner of Union Square will close on May 10 according to a statement provided by an official with Saks Global in another blow to the historic shopping district’s retail foundation Wednesday’s news was not entirely unexpected It followed the dramatic announcement last summer that Saks Fifth Avenue which operates out of a five-story building at 384 Post St. a move that subsequently reduced its presence in the area “While we saw meaningful engagement and success through the appointment-only format we have made this decision as part of our integration process as we focus on long-term growth,” read the Saks Global statement which promised to continue serving Bay Area consumers at Neiman Marcus stores in San Francisco and Palo Alto Neiman Marcus has a store on a different corner of Union Square at 150 Stockton St two blocks and around the corner from Saks Fifth Avenue’s Post Street store “As we continue through the integration process and execute our vision for Saks Global we are committed to honoring the individual DNA of the Saks Fifth Avenue and Neiman Marcus brands and preserving what makes them both exceptional,” the company said “There is not a broader plan to consolidate in markets where both Saks Fifth Avenue and Neiman Marcus operate.” Supervisors launched a process that could end with added protections for dozens of neighborhood domiciles who was behind a similar measure that died in the legislature last year cited lack of sponsorship by key supporters There have been no further statements about the disposition of the store since then Old Navy and Nordstrom also closed Market Street locations in 2023, and Bloomingdale’s, Nordstrom and numerous other retailers have left the San Francisco Centre mall largely vacant at Market and Fifth Streets on the edge of the Union Square district a spokesperson for the Union Square Alliance said that while “the closing of Saks marks the end of an era this was not an unforeseen development considering their recent changes to an appointment-only model Reisman pointed to fashion retailer John Varvatos relocating closer to the square Shoe Palace’s recently opened store at the corner of Geary and Powell Streets facing the square and Nintendo of America’s anticipated opening soon of a store across the street in the St Reisman also touted a full calendar of summer activities in the square, credited Mayor Daniel Lurie’s efforts to reform The City's permitting process and hailed the recent formation of the Lurie-backed San Francisco Downtown Development Corporation a new nonprofit that will coordinate with city officials to make investments that advance downtown revitalization “We expect the path to downtown revitalization to have its twists and turns — still we are extremely optimistic about the future of Union Square,” Reisman said phoge@sfexaminer.com Email notifications are only sent once a day, and only if there are new matching items. Your browser is out of date and potentially vulnerable to security risks.We recommend switching to one of the following browsers: Account processing issue - the email address may already exist Ben Pimentel’s new weekly newsletter covering the biggest technology stories in San Francisco, Silicon Valley and beyond.  Receive our newspaper electronically with the e-edition email. Receive occasional local offers from our website and its advertisers. Sneak peek of the Examiner real estate section. We'll send breaking news and news alerts to you as they happen. Your account has been registered, and you are now logged in. Invalid password or account does not exist Submitting this form below will send a message to your email with a link to change your password. An email message containing instructions on how to reset your password has been sent to the email address listed on your account. Marianne Wilson is Editor-in-Chief of Chain Store Age. With three decades of experience at CSA, she is one of the most knowledgeable and experienced editors in the retail industry. Over the years, she has been quoted in publications nationwide for her insights on retail, and has also served as a speaker and moderator at major retailing events and conferences in the U.S. and abroad. Marianne leads the CSA editorial team, overseeing content development across the brand’s digital and print channels. She is also instrumental in the planning and execution of CSA’s annual Breakout Retailer Awards and Retail’s Top Women Awards. A graduate of Boston University, Marianne loves to travel and seek out new retail wherever she goes. Prior to CSA, she was an editor at Hearst Publications. Hudson’s Bay Company’s efforts to stay in business appear increasingly unlikely to pan out Canada’s oldest company will liquidate its remaining six Hudson’s Bay stores and one Saks Fifth Avenue location Hudson’s Bay said it is making the move because it believes that a “viable bid for the current six-store model is unlikely.” The stores will join the 73 other Hudson’s Bay, 13 Saks Off 5th stores and two Saks Fifth Avenue locations already undergoing liquidation sales. Earlier this month, the bankrupt retailer said it wants to conduct an “art auction” for the sale of its most “historically” significant art and artifacts The items include the company’s Royal Charter which launched Hudson’s Bay as a fur trading company some 355 years ago but seven stores were excluded from the initial list as the company held out hope for a buyer and a last-minute option to restructure The Hudson’s Bay and Saks Fifth Avenue stores in Canada are expected to operate no later than June 15 nine Saks Off 5th stores will close Sunday [READ MORE: Hudson’s Bay accused of illegally ending workers’ commissions] Hudson’s Bay Company includes Hudson’s Bay three Saks Fifth Avenue and 13 Saks Off 5th stores also operate in Canada under Hudson’s Bay Company ULC The proceedings do not affect U.S.-Saks Global which is a standalone entity distinct from Hudson’s Bay Co.(Previously, Hudson’s Bay Saks Fifth Avenue and Saks Off 5th were part of HBC But the holding company has disbanded after HBC purchased the Neiman Marcus Group and formed Saks Global Retail 10 percent of digital sales will benefit the Saks Fifth Avenue Foundation's mental health initiatives By Zach James for Luxury Daily News Service retailer Saks is supporting the emotional well-being of at-risk groups Share your thoughts. 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