Neiman Marcus Group

Neiman Marcus Group on Tuesday posted its first sales increase in two years.

Lowe’s Cos. has appointed a 20-year retail veteran to lead supply chain field processes   Michael West will join Lowe's as senior VP of supply chain field operations, effective Sept. 25. He will report to chief supply chain officer Brent G. Kirby.   West joins Lowe's from Neiman Marcus, where he served on the company's leadership team as senior VP, supply chain. He led distribution, transportation and fulfillment for all brands in the Neiman Marcus Group.   

Neiman Marcus Group is going it alone — at least, for now.

Coach Inc. has tapped a 26-year fashion veteran to lead the company as its expands its brand portfolio.   Joshua Schulman has been named president and CEO of the Coach brand, effective June 5. In this newly created role, Schulman will be responsible for all aspects of the brand globally, reporting directly to Victor Luis, CEO of Coach, Inc. This new leadership structure follows the 2015 acquisition of Stuart Weitzman, and is an important step in Coach, Inc.’s evolution as a customer-focused, multi-brand organization, the retailer said.

Hudson’s Bay Co. mirrored the challenges confronting the department store industry as it swung to a loss in its fourth quarter  and said it would cut costs and capital spending.   

Neiman Marcus posted another quarter of declines for its second quarter.   For the period ended January 28, 2017, the chain reported total revenues of $1.40 billion, a decrease of 6.1% compared to $1.49 billion for the second quarter of fiscal year 2016. Comparable revenues decreased 6.8%.   

The NRF Foundation has brought together leading retailers and non-profits to launch a job training and credentialing initiative called Rise Up (Retail Industry Skills & Education).   The program is designed to help people — regardless of education, background, economic means or age — acquire the skills they need to secure jobs in retail and advance into promising careers in every aspect of retail, from in-store to digital and mobile commerce, according to the NRF.  

Neiman Marcus Group is not going public anytime soon.    In a filing on Friday, the luxury department store retailer said it would withdraw its initial public offering, having determined "that it is not in its best interests" to proceed with the initial public offering at the current time.     

Turning big data, social media challenges into growth opportunities

As 2017 gets underway, digital disruption continues to drive — and transform — the industry.

Besides creating a more consumer-centric, web-enabled shopping experience, digital innovations — from the Internet of Things to mobility to social media — are altering retail operations. They are also generating new challenges that retailers are unaccustomed to, or worse, still unprepared for.

Neiman Marcus Group doubled its loss in its first quarter amid sliding sales.   The luxury department store retailer posted a net loss of $23.5 million in its first quarter, ended Oct. 29, compared to a loss of $10.5 million in the year-ago period.    Sales fell 7.4% to $1.08 billion, from $1.16 billion last year.   Same-store sales fell 8%. It was the fifth straight quarter of decline.