Word: nordstrom
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...starting the shaving business." They sold their BMW for $12,000 - "We were broke," Malka says - and opened up a small Manhattan store in 1996. The company sells its own Art of Shaving-brand products in its stores and other high-end retailers like Bloomingdale's, Neiman Marcus, Nordstrom and Saks. (See the best pictures...
However, department stores, such as Macy's, Dillard's, Bon-Ton Stores, JC Penney, Neiman Marcus, Nordstrom and Saks, will likely be squeezed to bring in the biggest markdowns as these retailers typically rely on the holiday season to generate between 45% and 50% of their operating profits, says Karen Ghaffari, a managing director at Fitch Ratings...
Higher-end department stores such as Saks, Nordstrom, and Neiman Marcus saw decent traffic even though they didn't offer discounts that exceeded 70% as they did last year. "Inventories are much tighter and promotions much more reasonable, which should lead to good margins," says Balter...
Take Jessica Laux, a 32-year-old mother of two in Pittsburgh, Pa., who shops regularly at Saks and Nordstrom. "I'm hopeful there's going to be similar deals as there were last year - and almost expecting it, given the current state of the economy," says Laux. She remembers 2008's steep holiday discounts and is unimpressed with the paltry 30% markdowns that are currently being offered. "Seeing 30% isn't going to make me shop earlier," says Laux, who adds that she'll do the bulk of her shopping in the final two weeks before Christmas...
...response, upscale department stores such as Saks Inc., closely-held Neiman Marcus and Nordstrom Inc., started slashing prices to unload a glut of inventory. Saks fired the first volley, slapping 70%-off signs on luxury designer clothing in early November 2008. Neiman and Barneys frantically followed suit...