NEW YORK — Saks Inc., boosted by affluent consumers spending more amid Wall Street gains, posted a strong third quarter and sees the trend continuing in the fourth quarter.
“I don’t think people are euphoric, but luxury has substantially improved, coming off a lower base,” Saks chairman and chief executive officer Stephen I. Sadove told WWD on Tuesday. “We are seeing more full-price selling. There have been less promotions. People are feeling OK. It’s a much more stable environment.”
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)