Joyce Lin

We recently announced a strategic realignment of our Saks Fifth Avenue and Neiman Marcus Stores teams. With this move, all customer-facing functions for these brands, including Brand Partnerships & Buying, Merchandise Planning, Marketing, Digital, Commercial Analytics and Customer Insights, and now Store Experience will be part of the Saks Global Commercial organization, led by Emily Essner, President and Chief Commercial Officer. The structure will allow us to move quickly as an integrated team to capture opportunities to maximize growth and better serve our customers and partners as work to redefine luxury retail. With this change in structure, we are pleased to announce the appointment of Mary McGreevy to Chief Stores Officer, Saks Fifth Avenue and Neiman Marcus. Reporting to Emily, Mary will be responsible for leading the strategy and performance of our store network, overseeing the in-store customer experience and driving innovation to deliver a luxury experience that is artfully curated for every customer. https://lnkd.in/ecmeH4N5

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On Monday, David’s Bridal announced the launch of a wholesale business. Ahead of the news, Glossy met with David's Bridal CEO Kelly Cook to learn more about the company’s growth and evolution plans, which also include opening shop-in-shops in department stores.

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Great post Sherry S. Thanks for sharing. When pricing power erodes, scale stops being an advantage. Agility becomes the only real defense. Too often, legacy retail responded to that moment not by rebuilding flexibility, but by leveraging the balance sheet to extend the runway. Debt buys time. ⏰ It does not buy adaptability. Markets are ruthless about this distinction. Interest expense doesn’t adjust for brand equity. Vendor confidence doesn’t survive prolonged leverage. Fixed real estate costs don’t bend when demand volatility increases. What we’re seeing play out isn’t a collapse of demand for retail or luxury in my opinion. It’s the capital market repricing of business models that couldn’t evolve fast enough.📉 This is the uncomfortable truth for boards and CFOs: you can restructure liabilities, but you can’t refinance an inflexible operating system. Chapter 11 won’t answer whether the category is broken. It will answer whether financial resets can substitute for structural change. Capital is already signaling the answer. 📣 In a world defined by demand volatility, cultural speed, and tighter capital, operating-model agility, not leverage is the real margin of safety. The next phase of retail value creation won’t come from balance-sheet engineering. It will come from rebuilding flexibility into how inventory is planned, committed, produced, and replenished. Markets are now repricing that reality in real-time. Kornit Digital https://lnkd.in/e-jfWtg3

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Saks Fifth Avenue to shutter 12 more stores by May Saks Global is set to close 12 Saks Fifth Avenue stores by the end of May, the company announced Friday, shrinking its footprint to just 13 locations nationwide. Saks said it would also be closing four Neiman Marcus stores. The move follows Saks' #bankruptcy filing in January, and previous announcement in February that it would close eight Saks Fifth Avenue stores. CEO Geoffroy van Raemdonck said the closures would allow #Saks to focus on high-potential markets and provide a better experience for luxury shoppers. #SaksFifthAvenue #NeimanMarcus #layoffs #linkedin https://lnkd.in/e6udKHSc

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Ailing US luxury department store group Saks Global, owner of Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus, has announced the closure of a further 15 stores as it attempts to reverse its fortunes following January's bankruptcy filing. #SaksFifthAvenue #chapter11 #BergdorfGoodman #NeimanMarcus #departmentstores #USretail

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