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Nordstrom and Saks lead department stores in March
New York City -- Showing that luxury is experiencing measurable bounce in the recovering economy, the higher-end department stores led the same-store sales pack in March.
Saks outperformed the rest of the category, recording an 11.1% same-store sales increase during the month. Total sales rose 9.2% to $260.2 million, compared with $238.2 million in the year-ago period.
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A Uniqlo opportunity in NYC
NEW YORK -- Uniqlo, a subsidiary brand of Japan-based Fast Retailing Co., announced that it will open its third New York City location at 31 West 34th Street this fall. The 34th Street store is set to open late in the fall of 2011, following the opening of the company's largest flagshop store on Fifth Avenue in early fall. Uniqlo operates a store in NYC's trendy SoHo neighborhood.
In conjunction with the news of its NYC expansion, Uniqlo announced plans to hire 1,000 retail associates and 100 supervisors from the local tri-state area.