On October 27, 2026, it was reported, Kohl's turnaround has been dragging on for years now, with little to show for it. Last year, Q4 net sales fell 4%, with comps down nearly 3%, contributing to declines of 4% in net sales and over 3% in comps for the full year compared to 2024. The company continues to generate good cash flow and doesn't have much debt, which means it can afford to continue its turnaround into next year, according to David Silverman, senior director at Fitch Ratings. As of last month, the department store has a new chief merchant, former Walmart fashion executive Ryan Waymire, who's also had stints at Wayfair, FabFitFun, Amazon and Target. But it suffered a setback this year as its Sephora shop-in-shops, long touted as a driver of traffic and sales, suffered sales declines for two straight quarters. But ongoing sales erosion threatens to weaken its ability to compete, McMahon said. Its holiday comparable sales, traffic, markdowns and gross margins will be under a microscope, he said. We're covering the news relevant to you. Help us get it right by telling us more about you. "Kohl's needs to give middle- and lower-income shoppers a compelling reason to choose its stores over off-price chains, mass merchants and online rivals," he said. "Another weak holiday would raise questions about how much longer Kohl's can pursue a turnaround without further restructuring."
On October 27, 2026, it was reported, Cymax Group Technologies, the e-commerce technology company that has been in business for two decades, is winding down operations, according to local reports. The Vancouver Tech Journal reported that the company, which was founded in 2004 and provides e-commerce technology and logistics services to furniture manufacturers and retailers through platforms including Channel Gate and Freight Club, is closing based on LinkedIn posts by employees. As of Tuesday morning, the Cymax Group, Channel Gate and Freight Club websites are all active with nothing indicating an interruption in business. A search of LinkedIn posts containing "Cymax Group" shows several "open to work" style announcements from former employees, with the first one dated Oct. 13. Markus Frind, CEO of Frind Properties, was appointed Cymax Group's CEO in 2024 and is its majority owner, after first investing in the company in 2015.
On October 27, 2026, it was reported, after a tumultuous 2025, Saks Global landed in bankruptcy court early this year, a development that seemed inevitable to most observers. The company struggled to pay vendors throughout the year, leading to a dearth of merchandising during the critical holiday quarter. Months later the company exited Chapter 11 as "Exemplar Luxury Group," running, as before, high-end department stores Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, and having trimmed its debt load to under $1 billion. The fleet has shrunk dramatically, yet its remaining stores may not be getting enough attention, according to Appel, who noted that its marketing at the holidays this year is focused on its Manhattan flagship store. Because they don't have scale, and they're using the same buying team for both, which is completely ridiculous." This is exemplified by the closure of Saks' Chicago store on Michigan Avenue, which for decades was across the street from Neiman Marcus, with both thriving. "They might think that by closing Saks, maybe they'll get a lot of customers going to Neiman's, but they're different customers. So I think that's baloney. They don't want to make the investment. They're not taking the long term view." Other analysts see Exemplar as a whole facing a major test this season. Most high-end brands have struggled this year, and aspirational luxury shoppers seem to have fled. Serving these customers is complex, and, at Exemplar, luxury demand, full-price selling, inventory management, vendor relationships and cash generation will all be under scrutiny, according to McMahon. Saks in particular is likely to continue to shed market share, to the benefit of Nordstrom and Bloomingdale's.
On October 20, 2026, it was reported, industry leaders who knew Morty Seaman remembered him for his acumen as a merchant, his eye for fabrics and for his sharp sense of humor. Seaman, 94, was the son of a furniture retailer and teamed with his brother Carl Seaman, to build Seaman's Furniture into one of the largest retailers in the Northeast, with 30 stores and sales of $290 million. Later, he partnered with his son, Jeff Seaman, to build Top 100 retailer Rooms To Go. The 2004 inductee into the American Home Furnishings Hall of Fame passed away on Oct. 16. "He was a legend, a maverick and an innovator. He built a heck of a company," Irv Blumkin, chairman of NFM, part of Top 100 Berkshire Hathaway's furniture division, told Furniture Today. "I have tremendous respect for what he always did." Todd Wanek, CEO of Ashley Furniture Inds., said Seaman's eye for product was second to none. "He's a legend in the industry. Talk about a legacy: what a successful organization at Rooms To Go, and at Seaman's before that." "He was a very personable guy. Always a face at the market. He certainly built a great company," Stump said. Clarence Smith, chairman of Top 100 Havertys, said he will remember Seaman's sense of humor. "Morty Seaman was a marvelous merchant, a great competitor and always a student of this industry. He was a retail genius, an old friend, and his impact on our industry was enormous." Keith Koenig, chairman of Top 100 City Home, called Seaman the best merchant in furniture and had plenty of good-natured interactions with him over the years. Koenig said Seaman appreciated having his family in the business. "He was a family guy and loved having his sons and now grandkids in the business.
