Saks Global’s challenges grow as it moves to cut costs and hold payments to vendors. Even more challenging, Saks trails in foot traffic to luxury department stores.
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Gucci Makes Critical Creative Decision After Revenues Plunge 21% in 2024
With Gucci revenues in free fall, creative director Sabato De Sarno exits the brand as company leaders assert control to restore Gucci to luxury greatness.
Store Closures To Double Last Year’s And Far Outpace Openings in 2025
Retailers will close up to 15,000 stores this year, more than double that in 2024. In addition, store closures will far outpace openings.
2025 Starts In A Burst Of Dealmaking: JCPenney Merger Into Catalyst Brands The Biggest
Christian Lacroix, Kapital, Laura Ashley, Stella McCartney, True Religion, Urban Skin RX, Vera Wang, and Vince have new owners. JCPenney has merged with SPARC Group.
Jewelry Market Splinters As True Luxury Richemont Rises And Accessible Signet Falls
Richemont delivered stunning holiday quarter performance with luxury jewelry sales up 14%, while Signet reported holiday accessible/mass-market jewelry sales down 2%.
