Saks Fifth Avenue CEO: Some Department Stores Are Struggling. Here’s How They Can Be Saved
Let’s get this one out of the way—despite all of the headlines, retail isn’t dying. After all, Amazon, the world’s largest company, with a significant web services business, 47 Emmy nominations, and exponential growth, is at its core, a retailer. When people frown upon the industry, more often than not they are thinking of department stores, which have become a “dirty word” in retail. But rather than write them off, we should see this industry as primed for a reinvention. And, while it may sound self-serving, the luxury category is where the resurgence of the American department store can happen. Too broad of a brush has been used to paint this industry, which I have been a part of for 25 years, and it’s time to set the record straight, make the case for our future and, most importantly, determine how we get there. Read more at Fast Company.