Start job hunting, no matter what Saks or Neiman Marcus store you are working at. it’s over, total liquidation in every store sooner or later. It’s over.
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SFA/NM is one division, the buyers are buying for both names, and Bergdorf’s is the other Saks Global division.
Saks Global will keep at least one name in every major market.
For example, San Francisco and Boston had an NM and S5A across from each other. Since it’s one division now, they will cut the least profitable location regardless of name.
Neiman's Tampa, Scottsdale, and San Francisco are next. Mark my words.
They have already chopped
in review
Eight Saks and Neimans Boston.
Most the Saks boutiques in hotels.
Horchow is folded into Neiman.
All five last call stores.
Seventy or so off price off 5th.
Leaving 12 left
The off fifth website . What's next?
The flagship probably will go. And where was the 100 million to renovate North Park?
Nordstrom .Bloomingdale's. Von maur and Dillard's will all perform better
@cz For all Saks and neighboring NM locations, It will come down to which one holds up in profitability and if the location. Is leased or owned property.
Beverly Hills has lost most of their seasoned sales people
Well, high-markup retail certainly is.