New York—There are rumors that prove true…and rumors that turn out to be false. Such is frequently the case in retail and this week was no exception.
The rumor that Saks Inc. was up for sale was indeed true with Hudson’s Bay Company submitting the winning bid. The Canadian company will bring Saks Fifth Avenue north by next year if the deal goes through (and no other bids are received during the “go-shop” period).
JCPenney made it clear the rumor that one of its factors was no longer lending to the department store’s smaller suppliers was untrue. In fact, JCPenney says there’s no problem with any of its suppliers.
After rumors about difficulties that kept it from offering online sales, H&M officially launched its online shopping in the United States (after several successful European ventures). H&M also made news this week as making the top 10 among the Top 100 fastest growing retailers in the country.
No one needs a rumor to confirm that having the latest pair of designer shoes or handbag can lift the spirits. But they can offer even more, some researchers discovered while interviewing women about their luxurygood purchases. That new designer bag actually helps women signal others to stay away from their man. “A designer handbag or a pair of expensive shoes seems to work like a shield, where wielding a Fendi handbag successfully fends off romantic rivals.”
No to mention it’s a much chicer and more civilized way to deal with things than fisticuffs, no?