CAMBRIDGE, Mass. — “Tell me where the Dow is and I’ll tell you how my business is doing,” said Stephen I. Sadove, Saks Inc. chairman and chief executive officer, in the opening keynote of the seventh annual Retail & Luxury Goods Conference at Harvard Business School.
These days, with the Dow hovering at more than 12,000, Sadove is feeling pretty good. His core customer is once again springing for superpremium items and comparable store sales are robust (up 11 percent in March). The Saks Fifth Avenue Men’s Collection, nonexistent three years ago, will be the store’s largest and most profitable men’s business this year.
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)