Macy’s needs to reignite its creativity by featuring more exciting products in stores and hosting engaging events to attract younger generations back, according to activist investor Barington Capital. Those are just two of several changes the activist investor says are necessary to turn around Macy’s, which once established itself as a premier department store but … Read more
Macy’s Herald Square’s new format for Christmas shopping — a holiday market in partnership with Urbanspace — caught fire at around 4 a.m. Monday damaging several of the booths set up just outside the store. The fire was contained within an hour, but one fireman was injured and taken to the hospital. Dozens of vendors … Read more
Activist investor Barington Capital on Monday revealed a stake in Macy’s and pushed the retailer to consider options for its Bloomingdale’s and Bluemercury businesses and create a separate real estate unit within the company. Macy’s shares jumped 4% Monday morning. The exact size of Barington’s hold in Macy’s is unclear. Barington partnered with real estate … Read more
Updated 4:18 P.M. E.T. Dec. 6 Prospects for the Nordstrom family taking their business private next year look good. Nordstrom Inc.’s financial results are improving. Executives have done a good job managing expectations. The Fed has cut rates twice this year, and the regulatory environment has loosened up. Brothers Erik and Pete Nordstrom, along with other … Read more
Terron Schaefer, the long-time chief creative director of Saks Fifth Avenue who left there to join Harrods, has died in Houston, according to Fern Mallis. He was just shy of his 80th birthday, which was Oct. 26. Schafer, whose title was executive vice president and chief creative officer at Saks, was also the breakout star … Read more
WHP Global is bringing together two of its brands for the holiday season: Toys “R” Us and Bonobos. The brand management firm is creating a collection of adult and childrenswear featuring Geoffrey the Giraffe, a mascot of Toys “R” Us since 1988. The capsule will consist of fleece crewnecks and hats and will be sold … Read more
Music mogul and former fashion designer Sean Combs is facing six new lawsuits alleging rape, sexual assault and other acts. The legal action was taken Monday in New York federal court by six anonymous individuals — two Jane Does and four John Does, including one man who claimed that as a minor he was fondled … Read more
With the East and Gulf Coasts port strike continuing, U.S. retailers are getting increasingly anxious about their holiday season. They already had low expectations for sales gains in the 2 to 3 percent range, but now with container ports shut down from Maine to Texas, there’s a growing undercurrent of concern, in particular about the … Read more
When it comes to consumer demographics, retailers are constantly looking for ways to segment their shoppers and expand into other target cohorts. A new study by Coresight Research gives insight into who are the 2024 shoppers in the apparel and accessories, , and beauty sector — which is characterized by age and household income. … Read more
Are strategies unveiled by mid-tier and high-end department stores in the U.S. this year enough to pull them out of the doldrums? Possibly in the long term, but no one is expecting the needle on sales and profits to move anytime soon. Stock prices are low, sales are tracking negative in most cases (even at … Read more
