Saks Inc., amid a retail climate getting increasingly precarious and discount driven, has lowered its sales forecast for the fourth quarter, citing the impact of Hurricane Sandy.
Saks did report gains in third-quarter sales and profits, but projected comparable-store sales will be flat for the fourth quarter while gross margins could be flat to down 50 basis points. Nor was Saks alone: The TJX Cos. Inc. also on Tuesday projected sales flat to 1 percent up in November and flat to 2 percent up in December and January for its Marmaxx Group, composed of TJ Maxx and Marshalls, though the off-pricer had a 7 percent comp-store gain in the third quarter. Other retailers, too, are responding to the storm and the macroeconomic forces by stepping up their discounting and accelerating Black Friday specials.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)