ABC News' Michelle Franzen and retail analyst Hitha Herzog break down Saks Global's restructuring, including store closures, workforce cuts and a strategic shift toward luxury retail and service.
The retailer, renamed Exemplar Luxury Group, is ditching anything that isn’t focused on high-end department store shopping.
Macy’s reported its fourth consecutive quarter of comparable sales gains as the department store said an overhaul of its merchandise and improved customer service drove more spending by customers
The parent company of Saks Fifth Avenue and Neiman Marcus is closing more of its department stores as it focuses on its most profitable businesses and trims debt during its Chapter 11 bankruptcy restructuring
Saks Fifth Avenue’s bankruptcy filing has revived debates about how these once celebrated shopping emporiums can regain their luster.