New York—Speculation (and rumor) like to run rampant especially in the fashion industry. Even though last Tuesday was April 1, there was no fooling around about some stories this week.
For instance, Coldwater Creek, which has been struggling to regain its footing after several quarters of losses, may presently file for bankruptcy apparently after failing to find a white knight investor.
Another rumor that perennially pops up in the New York real estate scene is that Neiman Marcus is planning to open its first Manhattan flagship. This time the location would be in the new Hudson Yards’ complex now under construction.
The other bit of speculation arises from news that Macy’s Inc. has appointed Jeff Gennette as president. Gennette, who has been chief merchandising officer at Macy’s since 2009, will report to Terry Lundgren, chairman/ceo. This appointment puts Gennette directly inline to assume the chief executive role when Lundgren retires.
For a closer look at this news, as well as other key online articles, check out the top 10 articles of the week: