Josiah Nedd

Recently, Anu Narayanan, our President of Women’s and Home, appeared on the Women in Retail Leadership Circle podcast to share her perspective on leading with creativity, taking bold but thoughtful risks, and driving innovation at Anthropologie. In the episode, Anu reflects on her career journey, the evolution of #Anthro's women’s and home businesses, and how leaders at every level can spark change. Listen to the full episode here 🔗 https://lnkd.in/gQ58qqpb

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Saks Global — which operates both Saks Fifth Avenue and Neiman Marcus — is laying off hundreds of workers this week as part of an effort to consolidate operations as the retailers come together, WWD has learned. https://lnkd.in/ezTiRqpe

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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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The parent of Saks Fifth Avenue said it will close most of the retailer’s discount chain, Saks Off 5th, as it restructures its business after filing for bankruptcy protection this month. All but a dozen of the roughly 70 Saks Off 5th stores will close and begin holding going-out-of-business sales at certain locations on Saturday, subject to approvals in the chapter 11 process. The Saks Off 5th online business, a separate entity, will also wind down and hold liquidation sales beginning on Friday. 🔗 Read more: https://on.wsj.com/4qV6dOa

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Saks, the cash-strapped luxury retailer, is planning to file for Chapter 11 bankruptcy protection as soon as Sunday, according to people familiar with the matter. The company is heading toward Chapter 11 without a restructuring agreement in place, with an eye toward crafting one in the coming weeks, said the people, who asked not to be identified discussing a private matter. While a bankruptcy filing is likely to come in the next few days, Saks’ plans remain in flux and the timing could still change, they said. https://bloom.bg/3YQziOp

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Saks Global, the parent company of luxury retailers including Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, and Saks Off 5th, filed for Chapter 11 bankruptcy following years of rising leverage, tightening liquidity pressure, and softer consumer demand. The EDF-X Early Warning System first identified Saks as a Severe credit risk in January 2022 when its 12-month forward-looking probability of default breached its peer-group based trigger. Learn more about Moody's EDF-X capabilities: https://mdy.link/4pPRmmQ

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The in-store experience breaks down when HQ and stores don’t speak the same language. But... it’s not about fault. It’s about a lack of alignment. 🔁 HQ needs clarity. Stores need context, and both teams need communication. Here’s how to bridge the planning-to-execution gap ➡️ https://lnkd.in/gfKU5UcX

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Saks Global has entered Chapter 11 bankruptcy protection. Read more https://lnkd.in/ezRqa9ti The Chapter 11 filing comes just over a year after the retailer acquired Neiman Marcus and Bergdorf Goodman. The combined company struggled almost from the start amid sinking sales and fraught relations with vendors and creditors.

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As NYC’s retail market evolves, the next hotspot might surprise you. At the Commercial Observer's National Retail and Hospitality Forum, Fred Posniak, ESRT's Senior Vice President, Leasing, shared why you should never discount New York or Manhattan. He revealed the neighborhoods retailers should be watching closely. Swipe through to find our more! Get the full insights in ESRT's blog: https://lnkd.in/ecdx8m8G

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