The outlook for the high-end consumer might have dimmed some, but luxe retailers have found their guiding light in the Web.
Saks Inc. and Neiman Marcus Inc. weighed in with quarterly results Tuesday. And although their bottom lines varied — with Hurricane Sandy helping pull down Saks’ net profits, and a charge for debt extinguishment erasing most of Neiman’s earnings increase — both companies used the opportunity to hammer home the importance of the Web and how it’s transforming their businesses.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"