Kendall Davis/Retail Dive
By Retail Dive Staff
Source: www.retaildive.com, July 2024
The team discusses a barrage of news from several players in a retail space that has been written off many times.
Welcome to The Backroom, a window into what goes on behind the scenes as the Retail Dive team covers the stories and trends reshaping retail. You can check out all our podcast episodes (past and present) here and listen on Apple Podcasts, iHeartRadio and Spotify.
The department store is a century-plus-old retail model that has survived a slew of transformational challenges, including the rises of specialty retail and e-commerce. But in recent decades, several if not all major players have struggled to stay relevant, amid the decline of the American mall and the fallout of the COVID-19 pandemic.
Lately, though, several players in the space – including Macy’s, Saks Fifth Avenue, Neiman Marcus, Nordstrom and more – have garnered headlines with major developments, announcements and possibilities. In fact, another department store, Southern retailer Belk, made the news after this episode was recorded. Belk picked up new owners with controlling interest in the company and shrunk its debt by nearly $1 billion, the biggest financial relief since its 24-hour spin through bankruptcy three years ago.
Retail Dive Senior Editor Kaarin Vembar and Senior Reporter Daphne Howland discuss what’s going on at these retailers, what it might mean and what could happen next.
