Nordstrom's new store, located a few blocks from Central Park, marks the 118-year-old company's first flagship offering in the nation's biggest retail market and aims to reboot a format that has been fading.
The Canadian owner of Saks Fifth Avenue announced on Monday that, following an extensive review process, it has entered into a definitive agreement with a group of shareholders to take the company private.
The retail chain announced on Tuesday that it has completed the sale of its remaining European real estate and joint ventures to Signa Retail, as the company seeks to focus its attention on its North American operations.
Apparel rental services could now be taking spend away from traditional sales in an already challenged sector, and it remains to be seen if rental clothes will cannibalize retail sales over the longer term.
Canadian department store operator Hudson’s Bay Co reported a wider second-quarter loss on Thursday, hurt by several shuttered stores, heavy discounting and declining sales at the retailer’s namesake brand.