In the wake of its Chapter 11 filing, Saks Global Enterprises is closing all Neiman Marcus Last Call locations and most Saks Off 5th stores, marking a dramatic retreat from the off-price sector as it refocuses on core luxury business.
The thrill of the hunt for luxury bargains is fading for American shoppers as Saks Global closes dozens of off-price physical stores. Experts explain the deep-seated psychology behind bargain hunting and what the retail landscape loses with these closures.
Saks Global, the parent of luxury retailers Saks Fifth Avenue and Neiman Marcus, will shutter the vast majority of its Saks OFF 5TH off-price stores and all Last Call locations, marking a dramatic retreat from the discount luxury sector as it navigates Chapter 11.
Two French infant formula makers have recalled multiple product batches following the government's decision to slash permissible levels of cereulide, a toxin linked to gastrointestinal illness. The move amplifies a global safety crisis that has seen major brands issue recalls across dozens of countries since late last year.
Options strategist Rick Orford outlines a disciplined, top-down screening methodology to filter the market for optimal covered call candidates, emphasizing stock quality over mere premium yield.
Saks Global is closing the majority of its Saks OFF 5TH discount locations, including the final two in Massachusetts, amid a corporate restructuring following its recent bankruptcy filing.
Philadelphia District Attorney Larry Krasner faces mounting pressure and bipartisan condemnation after publicly threatening to 'hunt down' ICE agents, comparing them to Nazis. A Republican congressman has formally urged the Justice Department to open a criminal investigation into the remarks.
The Vatican has launched a meticulous three-month restoration of Michelangelo's iconic 'Last Judgment' fresco in the Sistine Chapel, aiming to revive the masterpiece's original chromatic brilliance obscured by decades of grime.
Cogent Biosciences secures FDA Breakthrough Therapy Designation and enters the Real-Time Oncology Review program for its lead drug candidate bezuclastinib in gastrointestinal stromal tumors (GIST), marking significant regulatory momentum for the biotech firm.
Despite a recent share price surge, Gear4music's underlying financial performance, marked by a declining ROE and shrinking earnings, paints a concerning picture. Analysts question the disconnect and the company's strategy as it navigates a challenging retail landscape.
In a quiet corner of an Istanbul mosque, Iraqi master calligrapher Ali Zaman has concluded a six-year spiritual and artistic journey: the creation of what is believed to be the world's largest handwritten Quran. The monumental work highlights the enduring legacy of Islamic calligraphy, an art form that flourished under Ottoman patronage and continues to find a vibrant center in modern Turkey.
Despite a sharp 22% drop in cocoa sales volume and multi-year lows in cocoa futures, Barry Callebaut's (SWX:BARN) share price has rallied strongly. Analysts are divided on whether the current valuation reflects deep value or overlooks persistent headwinds in its core commodity business.
A Florida couple is suing their fertility clinic after discovering the baby girl born via IVF is not genetically related to them, sparking a complex legal and ethical battle over parentage and clinic accountability.
As gold and the popular GLD ETF hit historic highs, retail and institutional investors alike are grappling with a critical question: is this a sustainable shift or a speculative peak? We examine the drivers behind the surge and the debate on what comes next.
TAIPEI, Jan 30 (Reuters) - Taiwan completed the maiden underwater sea trial for its first domestically developed submarine on Thursday, a big milestone in a project aimed at strengthening deterrence
The so-called 'Super Bowl Indicator' correctly predicted a market rise after last year's NFC win, but a deeper look at the data reveals it's little more than a coin toss—and a cautionary tale about spurious correlations in finance.
Luxury retailer Saks Fifth Avenue is laying off 69 employees in New Jersey as it closes three discount outlets, part of a broader restructuring following its acquisition of Neiman Marcus and a pre-negotiated bankruptcy filing.
A Utah couple with a $180,000 income sought advice on using a $7,300 bonus. Dave Ramsey's firm counsel: shore up emergency savings, attack their HELOC debt, and postpone both a long-awaited honeymoon and speculative IPO investing until their financial foundation is secure.
Egypt reopened the Rafah border crossing on Tuesday, allowing the first medical evacuation from Gaza since its latest closure. A critically wounded Palestinian patient was transferred to an Egyptian hospital, amid ongoing hostilities in the Strip.
The global packaging giant has successfully completed its court-supervised restructuring, slashing its debt burden by €1.3 billion and securing €349 million in fresh capital to stabilize operations under new ownership led by Redwood Capital Management.
