For more than a decade, the former executive chairman of Saks Global dreamed of adding Neiman Marcus to his collection of legacy department stores, believing the combined entities would create a luxury powerhouse strong enough to defy changes dragging down the industry. Instead, Richard Baker’s $2.7 billion acquisition of Neiman Marcus in 2024 ultimately plunged…
Shoppers walk outside the Saks Fifth Avenue flagship store in Manhattan in New York City, U.S., Jan. 6, 2026. Angelina Katsanis | Reuters Saks Global, the parent company behind the 159-year-old department store that’s become both a destination and a symbol for luxury fashion, filed for bankruptcy protection after running out of cash and failing…
Some retailers provided early holiday results on Monday that showed the crucial shopping season was solid, but didn’t blow away expectations. Lululemon, which is preparing for a new CEO and staring down a proxy battle with its founder, said in a release it expects its holiday quarter to be “toward the high end” of its…
The Google logo displayed on a smartphone alongside a shopping cart. Rafael Henrique | SOPA Images | LightRocket via Getty Images As retailers increasingly turn to artificial intelligence tools to lure shoppers and run key parts of their business, Google wants to make sure it’s in the center of the action. At the kickoff of…
A Walmart sign hangs on the exterior of the store on Nov. 20, 2025 in Hollywood, Florida. Joe Raedle | Getty Images Walmart and Google said Sunday that shoppers will soon be able to use Google’s artificial intelligence assistant Gemini to more easily discover and buy products from the retail giant and its warehouse club,…
Pixdeluxe | E+ | Getty Images It often starts small. A dab of concealer. A tinted moisturizer. Maybe a brow gel that goes from borrowed to bought. For many men, like Daniel Rankin, makeup has transformed from something taboo into a tool to make them look less tired and more put together. “I remember thinking,…
A sign advertises a Bitcoin ATM at a gas station on July 16, 2025 near Pasadena, California. Mario Tama | Getty Images According to the FBI, $240 million was lost to cryptocurrency ATM scams in the first six months of 2025 — about double the pace of similar scams in 2024. The growing pace of…
Pedestrians walk past a Saks Fifth Avenue store in Chicago, Dec. 30, 2025. Scott Olson | Getty Images Beleaguered retail chain Saks Global is struggling to line up as much as $1 billion in financing to keep its business afloat during a potential Chapter 11 bankruptcy filing, CNBC has learned. The luxury chain has been…
A pedestrian passes in front of the Saks Fifth Avenue at Brookfield Place in New York. Allison Joyce | Bloomberg | Getty Images Saks Global named a new CEO on Friday as the retailer is reportedly on the cusp of filing for bankruptcy protection. The parent of high-end department store chain Saks Fifth Avenue, which is privately held,…
As the restaurant industry endured another difficult year, many chains opted to close underperforming locations as they try to turn around their businesses. Inflation-weary consumers have pulled back their restaurant spending, choosing to eat at home or chasing deals when they go out for a meal. While some restaurants have won over reluctant diners, the…
