retail / Stores

The retailer now expects net sales to decline by a low single digit this year, down from previous guidance for an increase of about 1 percent.

A deal to secure $500 million in new financing may push out a reckoning. But falling sales, looming payments to vendors and creditors continue to dog the luxury retailer’s post-merger vision.

Saks Global is now seeking even more money to shore up finances while bondholders, who face almost $1 billion in losses, have begun to question if they’ll receive a single interest payment.

The department store is searching for a permanent CEO replacement after Kohl’s Corp.’s board discovered Ashley Buchanan, who had joined Kohl’s in January, had directed millions of company dollars to his then-undisclosed romantic partner.

Saks Global’s bonds fell after a call with management did little to pressure investors’ concerns about its financial outlook.

Hudson’s Bay Co. ULC previously planned to save six of its 96 stores from liquidation — but those six locations, including its flagship store, are now also being wound up.

Paloma Lanna’s Spanish DTC brand Paloma Wool caught fire online by blending Mediterranean breeziness with downtown cool. Now, what started on Instagram is opening its first physical stores — in New York and Barcelona — and targeting $25 million in sales this year.

Early data indicates Target and Walmart’s store traffic has declined since their DEI exit, while Costco’s has grown, signalling that we may be entering a new era of consumer boycotts.