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The Latest Breaking News from Saks

Fashion’s big reset: Can the new guard bring back the good old days?

With revenues falling, accusations of ‘greedflation’ and labour scandals, panic has hit the ateliers. Will fresh talent and strategic U-turns help the luxury labels turn the tide, asks John Arlidge

Evening Standard

Michael Kors celebrates 45-year career by toasting chic women of New York

Night at the opera theme for Kors’ autumn-winter collection features elegant gowns draped in opulent coats

The Guardian - UK

Dozens of Saks Off 5th stores to close after bankruptcy filing, liquidation sales begin

Saks Global filed for Chapter 11 bankruptcy earlier this month

The Independent UK

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Saks Bankruptcy Sparks Fears Macy's and Other Department Stores Could Be Heading the Same Way

Saks' bankruptcy raises alarm as Macy's and other department stores face closures, empty malls, and declining in-store shoppers.

International Business Times UK

CEO leading Saks Global through bankruptcy has a management philosophy of 'leading with love'

Also: All the news and watercooler chat from Fortune.

Fortune

‘The consumers are still out there’: why a bankruptcy for Saks Global may not spell the end

Just more than a year after the new luxury behemoth was formed, it announced it had filed for chapter 11 bankruptcy

The Guardian - US

Can Saks' new CEO repair the damage done to the luxury retailer by years of being treated as a 'financial plaything'?

Geoffroy van Raemdonck's first order of business will be to win back fashion brands.

Fortune

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Saks files for bankruptcy, leaving the future of its stores up in the air

‘This is a defining moment for Saks Global,’ the firm’s new CEO said

The Independent UK

Saks Global files for bankruptcy after takeover leads to financial collapse

Debt-riddled retail giant’s demise has cast uncertainty over the future of US luxury fashion

The Guardian - US

Luxury retailer Saks Global files for bankruptcy as it prepares to restructure

Luxury retailer Saks Global has filed for bankruptcy, preparing to reposition itself after obtaining about $1.75 billion in financing commitments

The Independent UK

Saks Fifth Avenue Owner on Brink of Bankruptcy as Consumers Pull Back on Non-Essential Spending

Saks Global, owner of Saks Fifth Avenue, is set to file for Chapter 11 bankruptcy as consumers cut discretionary spending and heavy debt from a costly merger burdens the retailer's finances.

International Business Times UK

Saks Global's near bankruptcy is the result of risky dealmaking—and a neglect of business basics

Also: All the news and watercooler chat from Fortune.

Fortune

How a real estate scion's risky dealmaking pushed Saks Global to the brink

With vendors angry and luxury shoppers deserting in droves, the department store chain’s new CEO, Richard Baker, faces a tough slog.

Fortune

Saks CEO Steps Down: What Went Wrong in the Final Months

Saks Global replaces its CEO amid debt pressure, missed payments, and a slowdown in luxury sales, exposing the risks of rapid expansion and bold mergers.

International Business Times UK

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The Independent UK

Saks may be heading for bankruptcy despite raising billions: report

Saks’ $2.65 billion acquisition of competitor Neiman Marcus put the company in more debt

The Mary Sue

‘Nordstroms would never do me like that’: North Texas woman orders JW Anderson handbag from Neiman Marcus. Then she opens the package

A North Texas woman says a luxury shopping splurge through Neiman Marcus didn’t go as planned. Instead of delivering the expensive JW Anderson handbag she paid for, she says the company sent her something much smaller and far cheaper.

The Independent UK

A senator’s wife, a tragic suicide and bullying claims: Strand Books owner accuses late assistant of major theft in new twist

Exclusive: Nancy Bass Wyden told The Independent that Brandon O’Brien made a ‘deliberate effort ... to ingratiate himself with [my] children over time, gaining their trust in order to twist isolated interactions and steal from me and my family’

Marie Claire

The Best Labor Day Weekend Sales Have Arrived to Upgrade Your Fall Beauty Routine

Score major discounts on editor-favorite brands like Phlur, Cyklar, Supergoop, and more.

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news in one place.

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Fortune

Saks Global is luxury’s last best hope

The combination of Saks and Neiman Marcus into a single entity represents one of the most significant developments in U.S. luxury retail in decades.

The Independent UK

I try United Airlines’ business class suite — here’s what I love about it (and what I don’t)

The Independent’s US Travel Editor Ted Thornhill puts United’s Polaris business-class suite to the test on flights between London Heathrow and Newark. The seat can cost up to $11,000 on this route. Ted discovers how much bang you get for this big pile of bucks

Fashion Times

These Ombré and Gradient-Effect Seasonal Staples Are Giving Summer Sunsets (Some Quite Literally)

This time around we're favoring clothing and accessories featuring sunset hues, including oranges, reds, pinks, yellows and purples.

Marie Claire

I’m Buying Every Major Summer Shoe Trend at Nordstrom and Saks Fifth Avenue

30 pairs for the ultimate new-season shoe refresh from Nordstrom and Saks Fifth Avenue.

Fortune

How Walmart's apparel czar had won it some fashion cred

Most of Walmart's growth is coming from more affluent shoppers it is trying to lure with more fashion.

Fashion Times

H&M Just Threw a Sartorial Curveball by Featuring Coated Essentials in Its Spring Offering

Other brands also got the memo, including Diesel, Zara, Max Mara, Courrèges, Acne Studios, Bottega Veneta and Dries Van Noten.

Fashion Times

Embellished Jeans Are the Natural Evolution of the Certified Daytime Sequin Skirts Obsession

There's a surprising variety to choose from so you can select the level of shine that's right for you, from subtle sparkle to totally blinged out.

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