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Data Breach Compromised Luxury Chains 'for Entire Year'

Saks Fifth Avenue, Saks Off Fifth and Lord & Taylor were affected

(Newser) - A data breach at department store chains Saks Fifth Avenue, Saks Off Fifth and Lord & Taylor has compromised the personal information of customers who shopped at the stores, per the AP . The chains' parent company, Canada-based Hudson's Bay Co., announced the breach of its store payment systems on...

Saks Fifth Avenue Coming to ... Kazakhstan

Luxury retailer to open 3-story location in August 2012

(Newser) - Soon the fine and fashionable people of Kazakhstan will be able to shop in added style: Luxury retailer Saks said today it will open a Saks Fifth Avenue store in August 2012. Saks plans to license the store, which will be built in the former capital of Almaty. Financial terms...

Sleep in Tomorrow; Better Bargains Begin Sunday

Cyber Sunday joins Cyber Monday as deals shift online

(Newser) - Black Friday ain’t what it used to be. “Stay at home and shop online,” a Saks exec advises, as retailers shift away from the traditional after-Thanksgiving bargain stampede to discounts spread throughout the holiday season. Most in-store deals tomorrow, especially in electronics, will be on lower-end products...

We Love Justin, Not His Jeans

For celeb designers like Timberlake, recession means hard times for fashion lines

(Newser) - The latest casualty of the economic crisis: celebrity clothing lines. “Every D-level celebrity who thought they could make a quick buck by designing a handbag or whatever is going to disappear,” Vogue editor Anna Wintour tells the Wall Street Journal. “And I think that's a good thing....

Lousy Retail Sales Will Delay Recovery

Recession isn't over as far as consumers are concerned

(Newser) - If the recession is indeed waning, nobody told consumers. Retailers of every kind reported lousy sales for the quarter ended Aug. 1, the Wall Street Journal reports. Target’s same-store sales fell 6.2%, Home Depot’s dropped 9.1% and Saks’ plummeted a whopping 15.5%. And with unemployment,...

Retail Gains Drive Dow Up 83

Signs of life from the consumer help stocks rebound

(Newser) - Positive retail reports helped get stocks back on track today after recent declines, the Wall Street Journal reports. Home Depot, Target, and Saks saw smaller-than-expected declines in quarterly profit, while discount chain TJX reported a 31% gain. The Dow rose 82.60 to close at 9,217.94. The Nasdaq...

'Haute Pink' Is the New Black

Bright colors spell optimism in troubled times

(Newser) - As economic woes plague the country, fashionistas are turning to bright, cheery colors—most notably hot pink, the Wall Street Journal reports. Even in New York, those who once wore only black are buying fuchsia ties and designing magenta kitchens. With men who might balk at the traditionally feminine hue,...

Designers Fight Store Discounts

Sales scare away brand loyalists, they say

(Newser) - Department-store sales may woo bargain shoppers, but they turn off the high-end base luxury designers cater to, Christina Binkley writes in the Wall Street Journal, and cut into those designers’ profits and brand control. Discounts last Thanksgiving set off a chain reaction that collapsed high-end retail’s pricing structure. “...

Saks' Deep Price Cuts Changed All the Rules

Even high-end shoppers have gotten a taste for bargains

(Newser) - When Saks Fifth Avenue slashed prices 70% in November to kickstart a stalled holiday shopping season, it changed the rules for the entire luxe market, reports the Wall Street Journal. Retailers like Neiman Marcus and Barney's followed suit, putting an end to the unwritten deal the stores had with designers:...

Outlets Keep Luxury Stores Afloat

No frills, but great prices, greet customers at outlets, which are a growth sector

(Newser) - In a stagnant economy, luxury retailers are opening off-price outlet stores at a faster clip, drawing in customers with sale prices they’d never see at a flagship, BusinessWeek reports. Including such names as Saks, Nordstrom and Coach, a trend is emerging: While visits and sales at boutique stores are...

Losses Continue for 2nd Day

Stagflation stalks the Street; retailers post poor results

(Newser) - Stocks fell today for a second straight session as doubts about financials persisted and economic news painted gloomy outlooks on inflation and housing, MarketWatch reports. Disappointing quarterly reports from the retail sector made a bad situation worse. The Dow fell 130.84 to 11,348.55, the Nasdaq 32.62...

Retailers Expressing Gratitude

Slow economy sparks personal greetings from retailers

(Newser) - Today's slow economy has sparked more retailers to thank shoppers with bouquets and personal notes, Portfolio reports. Common for big spenders, such thank-yous are now mailed to regular shoppers too—like one reporter who bought two shirts and a jacket at Nordstrom. "Our salespeople build relationships with their customers...

Wal-Mart Leads Feb. Retail Rally

Overall sales jump doubles expectations, calms consumer spending fears

(Newser) - Big retailers showed unexpected signs of life in February, beating weak sales predictions to inject some hope into the market. Wal-Mart led the way, posting a 2.6% same-store increase, beating its own predictions of flat-to-2% growth. Overall, same-store sales climbed 1.9%, with more than half of retailers beating...

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